Audacy will head to bankruptcy court after months of delays fueled by GOP allegations over Soros’ stake in radio giant ...Middle East

By Liam Reilly, CNN (CNN) — Audacy will head to bankruptcy court after the Federal Communications Commission agreed to conduct a foreign-ownership review with a new, post-bankruptcy version of the radio giant, a move that comes after months of delays, the result of GOP fearmongering over the Soros Fund Management acquisition of Audacy debt. The radio company’s court appearance comes after it filed for Chapter 11 bankruptcy in January, and when it disclosed it was entering a restructuring agreement to reduce debt from about $1.9 billion to $350 million. In February, Bloomberg reported the Soros Fund Management picked up over $400 million of the radio company’s debt, making it the largest

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