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Audacy Inc. In US Flirting With Being De-Listed From NYSE?
The second biggest radio group in the US (265 stations) has seen it's stock prices plunge 30% since the beginning of the year. In a little over two months Audacy Inc. is now down to 15 cents a share on the NYSE, a penny stock in danger of being de-listed from the exchange. On Wednesday March 15th the company will announce the fourth quarter results.
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Re: Audacy Inc. In US Flirting With Being De-Listed From NYSE?
They didn't do enough cost-cutting.
- paterson1
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Re: Audacy Inc. In US Flirting With Being De-Listed From NYSE?
A. rough day for a few major US broadcasters today. Sinclair Broadcasting's Diamond Sports Group, owners of Bally Sports declared chapter 11 bankruptcy last evening. Bally owns the broadcast rights to 42 professional MLB, NBA and NHL teams.
Audacy Inc. finished last year with an operating loss of $73.7 million with their stock still in retreat. In the last 12 months Audacy stocks are down over 95%. The company hopes to improve fortunes in 2023 since a big debt comes due in 2024 with a payment of $632 million required on November 17 Last year the company sold some stations and tower sights to help generate cash. More details on Audacy from Insider Radio..https://www.insideradio.com/free/as-digital-growth-slowed-q4-revenues-declined-1-at-audacy/article_bb9b22d4-c336-11ed-b1d9-cb5823cc2e3d.html
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