Billionaire Soros to Become Biggest Stockholder in US Radio Company
- Fund owns more than $400 million of Audacy’s first-lien debt
- Radio company’s restructuring would hand ownership to lenders
George Soros
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Soros Fund Management is positioned to become the biggest shareholder of Audacy Inc. when the radio and podcast company emerges from bankruptcy.
The investment firm founded by billionaire George Soros has scooped up more than $400 million of Audacy’s highest-ranking debt, bankruptcy court filings show. That makes it by far the biggest member of a group of lenders planning to swap their loans for stock in the broadcaster.