Billionaire Soros to Become Biggest Stockholder in US Radio Company
Media Industry,George Soros,Business,AM Radio,Communications,Bankruptcy
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Soros Fund Management is positioned to become the biggest shareholder of Audacy Inc. when the radio and podcast company emerges from bankruptcy.
The investment firm founded by billionaire George Soros has scooped up more than $400 million of Audacy’s highest-ranking debt, bankruptcy court filings show. That makes it by far the biggest member of a group of lenders planning to swap their loans for stock in the broadcaster.
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