Audacy wants an end to any additional regulatory review of its post-bankruptcy restructuring. The broadcaster has formally withdrawn its October petition to the FCC seeking a declaratory ruling related to foreign ownership limits.
Chaffe advised Trimont on the bankruptcy process and both deals, which closed before the end of 2024.
What was thought to be a done deal as far as Audacy's post-bankruptcy restructuring might be far from over as soon-to-be FCC Chairman Brendan Carr might potentially seek to overturn a previous Commission vote due to ownership ties around George Soros...