{"id":87014,"date":"2024-02-19T11:00:00","date_gmt":"2024-02-19T17:00:00","guid":{"rendered":"http:\/\/www.shotinthedark.info\/wp\/?p=87014"},"modified":"2024-02-19T07:10:15","modified_gmt":"2024-02-19T13:10:15","slug":"air-davos","status":"publish","type":"post","link":"http:\/\/www.shotinthedark.info\/wp\/?p=87014","title":{"rendered":"Air Davos"},"content":{"rendered":"\n

George Soros and his, uh, “activist” investment operation are set to take a controlling interest in Audacy<\/a>, the nations’ second-largest radio station chain:<\/p>\n\n\n\n

\n

The Soros investment firm, which is listed alongside other Audacy lenders that are members of the \u201cad hoc first lien group,\u201d is poised to have its debt converted into Audacy stock as part of a restructuring of the company.<\/p>\n\n\n\n

Audacy filed for Chapter 11 bankruptcy protection earlier this year in order to reduce and restructure its $1.9 billion debt, converting most of it into stock.<\/p>\n\n\n\n

\u201cThrough the restructuring, Audacy and its debtholders will undertake a deleveraging transaction to equitize approximately $1.6 billion of funded debt, a reduction of 80 percent from approximately $1.9 billion to approximately $350 million,\u201d the company said in a Jan. 7 press release.<\/p>\n\n\n\n

There were a number of critical reactions as word spread on social media that Mr. Soros\u2019s investment firm is set to assume a major stake in America\u2019s number two radio station chain.<\/p>\n<\/blockquote>\n\n\n\n

There’s concern from the right that Soros might turn Audacy’s stations into a huge progressive media nexus. <\/p>\n\n\n\n

I’m less convinced. Audacy’s major holdings in the Twin Cities are a couple of the bigger music stations, and the once-mighty WCCO. If progressives took complete control of ‘CCO, I’m not sure we’d notice any more than if they’d taken over the Strib.<\/p>\n","protected":false},"excerpt":{"rendered":"

George Soros and his, uh, “activist” investment operation are set to take a controlling interest in Audacy, the nations’ second-largest radio station chain: The Soros investment firm, which is listed alongside other Audacy lenders that are members of the \u201cad hoc first lien group,\u201d is poised to have its debt converted into Audacy stock as […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,4],"tags":[],"class_list":["post-87014","post","type-post","status-publish","format-standard","hentry","category-lefty-alt-media","category-media"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/87014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=87014"}],"version-history":[{"count":1,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/87014\/revisions"}],"predecessor-version":[{"id":87017,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/87014\/revisions\/87017"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=87014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=87014"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=87014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}