Executives at radio’s second largest company are denying a blog post written by Jerry Del Colliano that CEO David Field confirmed the company was filing for bankruptcy.
The report was apparently picked up by at least one media outlet in Massachusetts which could have been the reason Audacy went public to deny the report.
Audacy posted this response to the report on the company Twitter page. As you can see from the Audacy tweet, public station WGBH is tagged. A search of the WGBH Twitter page and website does not result in any news about Audacy, however. Of course, the story could have been deleted after Audacy denied the report, if one was ever posted.
The company stock has been below $1.00 in recent weeks and Audacy received a delisting letter from the NYSE. Following their Q2 results a round of layoffs went into effect at the company and 3rd quarter revenue was projected to be flat. Audacy is expecting a stronger 4th quarter, buoying by political revenue. The Audacy stock closed at .52 Tuesday.
He doth protest too much.
Okay. If not today…someday.
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