Audacy Inc. has emerged from Chapter 11 bankruptcy protection as a privately held operation with the Field family still very much in power, but with Soros Fund Management as its majority interest holder. That has rankled some Republicans, who have been critical of the FCC’s approval of a restructuring that supposedly fast-tracked an increase in Audacy’s foreign ownership concentration.
Now, Audacy has told the Commission that non-U.S. ownership matter is moot, and as such any un-doing of its post-bankruptcy regulatory OK is unwarranted.
