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Audacy Stock Trading Halted

Sounds like these are strictly real estate and equipment sales. The company should be exploring all opportunities in that regard (and perhaps is doing precisely that).

Do they still own AM 850 in Boston, out of curiosity?
 
Audacy back under one dollar a share at the moment.

Last | 12:51 PM EDT
0.906
quote price arrow down
-0.184 (-16.8807%)
 
TheBigA said:
However, the tower property has value.
Click to expand...
As what?

Say you pay 2M for the site, that is not a small note.
Even if you pay cash, there are tons of places you can park 2M and make more money than that site will ever produce.
The property taxes are north of 70K/yr

The land is in a swamp surrounded by conservation acreage, the Town would take it by eminent domain before letting anything be built there, assuming you could ever get the permits from the Conservation Commission, State, and others.

73 acres, 7 are dry, less than 5 can be built on

Yes there are other people on the site, T Mobile being one, and I assume they are paying rent.

It is surrounded by conservation land, the zoning is for a radio / tv transmission facility..... try getting that changed.

It has value as the transmitter site to a near dead AM radio station with no ratings and near zero income....

I don't see American Tower or Vertical Bridge showing up with bags of cash to buy it.

Here is a walk down memory lane compliments of @fybush

 
MRBIboredop said:
As what?

Say you pay 2M for the site, that is not a small note.
Even if you pay cash, there are tons of places you can park 2M and make more money than that site will ever produce.
Click to expand...

Here's how Lance Venta sees it:

radioinsight.com

Rumor Killer: Audacy Is Not Selling Boston & Phoenix Stations (But Those Upcoming Debt Payments Loom) - RadioInsight

A misleading headline and poorly phrased column at Inside Radio has sent us multiple inquiries today, Audacy did NOT announce it is selling stations in Boston and Phoenix. In its quarterly financial filing with the SEC, Audacy noted that it had entered into letters of intent to sell certain...
radioinsight.com radioinsight.com

“The Company conducted an analysis and determined the assets met the criteria to be classified as held for sale at June 30, 2023. In aggregate, these assets have a carrying value of approximately $2.5 million. The transactions are expected to close within one year.”
Click to expand...

So apparently they have a buyer for the property.

Throughout this thread I've said repeatedly that there are no real assets that can take a big bite out of the $2 billion debt.
 
i wonder if Paramount Global is still invested in this company and if so, how long before it's absorbed back into that company and rebranded back to either CBS Radio or Infinity or Entercom
 
Will_H_69_9 said:
i wonder if Paramount Global is still invested in this company and if so, how long before it's absorbed back into that company and rebranded back to either CBS Radio or Infinity or Entercom
Click to expand...

CBS Corporation (now Paramount Global) actually sold the radio division to CBS stockholders. I think they ended up with 72% of the new stock. It's likely that most of the stockholders have sold their stock in Entercom. Which may be one of the reasons why it has lost so much value. The sellers exceeded the buyers.

Disney did a very similar thing when they sold ABC Radio.
 
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