As 2019 came to a close, country music act Little Big Town helped inaugurate the new corporate headquarters of Entercom Communications, located on the fourth floor of 2400 Market Street in Philadelphia. The main lobby boasted an open meeting and performance space, and the “Xfinity Lounge,” a Comcast-sponsored space for use as a green room for guests of any of the six stations that comprise the company’s Philadelphia radio stations.
Much has changed since then. First, the company is now known as Audacy Inc. Second, President/CEO David Field and CFO Rich Schmaeling are no longer associated with the company, following a bankruptcy that saw Soros Fund Management assume majority control and install Kelli Turner as its Chief Executive.
It is now known that Audacy is scaling back its presence in Bala Cynwyd, Pa., which had more than 300 employees taking up some 67,000 square feet in the weeks before the COVID-19 pandemic ravaged the in-office business environment across the globe.
As first reported by Streamline Publishing’s Radio Ink, a sublease of the building’s fourth floor is in progress, and it will allow Audacy to utilize unused office space. Studio space is not impacted in any way. An Audacy spokesperson told Radio Ink, “Philadelphia remains an important part of Audacy, and these changes align our office needs with teams on hybrid work schedules.”
Several of Audacy’s top executives are now based closer to the City of New York, where the company maintains a presence at 345 Hudson Street in lower Manhattan.
— With reporting by Cameron Coats and Adam R Jacobson, in New York
