Audacy receives a 30 day extension to perform missed debt payment

[audiophile]

Deutsche should have hired you to give a prospectus on Audacy beforehand...

[Mega Hertz]

A greedy radio corporation on the verge of BK? I am shocked. This is shocking.

[Mega Hertz]

Break it up, sell me 98.7, I'll run this bitch.

[ZenithCKLW]

I'll take 1270. I'll trade this Bed Bath and Beyond gift card I have for it.

[Colonel Flagg]

Break it up, sell me 98.7, I'll run this bitch.

To save money, you will be broadcasting from the long abandoned studios at the transmitter, on Lyndon St in Detroit. There might be a little extra money in the budget for an extra layer of razor wire.

The guys from Doubleday who launched Wheels in 1980 did it. So can you.

[Mega Hertz]

Break it up, sell me 98.7, I'll run this bitch.

To save money, you will be broadcasting from the long abandoned studios at the transmitter, on Lyndon St in Detroit. There might be a little extra money in the budget for an extra layer of razor wire.

The guys from Doubleday who launched Wheels in 1980 did it. So can you.

I'll bring the WBFG calls back, make it stand for "we're being fucking great".

[TC Talks]

I'll invest only if Neckbeard does overnights

[audiophile]

Keep an eye on this weekend. I think Audacy might file on Sunday night. No guarantees, of course.

JPM Chase has granted two grace period extensions on its 1st lien Credit Agreement so far; the one announced this morning is only good for three business days (meaning expiry now occurs this coming Monday).

How much is Chase on the hook for?

[TC Talks]

Keep an eye on this weekend. I think Audacy might file on Sunday night. No guarantees, of course.

JPM Chase has granted two grace period extensions on its 1st lien Credit Agreement so far; the one announced this morning is only good for three business days (meaning expiry now occurs this coming Monday).

How much is Chase on the hook for?

Radio broadcaster Audacy has engaged in discussions with two groups of creditors to restructure around $1.9 billion in debt, the company confirmed on Tuesday.
....

While Audacy continues to work through its issues, the company’s top executives are still being paid well. Two weeks ago, Audacy revealed its CEO and five other senior executives were paid a collective $3.2 million in retention bonuses, which were approved by shareholders.

Always love to see the whole retention bonus thing. They fucked it all up, but we need them.

[Mega Hertz]

Jesus H. Christ, MW. English!

[TC Talks]

There is also $1 billion of second lien notes (the "2027 Notes" and the "2029 Notes") outstanding; these debt holders at best would receive a few pennies on the dollar of cash or non-cash consideration in a debt restructuring.

I never understood why anyone would get in a second position for almost any debt of this size.

How did Clear Channel ever manage the 13 billion dollars they had outstanding? I don't really pay close attention.