AUD - AUD STOCK NEWS

Audacy engages in discussions with lenders to refinance debt and improve capital structure for long-term growth. Utilizes grace period for $18 million interest payment on senior secured 2029 notes. Decision does not impact operations or obligations. Focuses on enhancing capabilities and entering new partnerships.

Audacy, Inc. (NYSE: AUD; OTC: AUDA) has completed a 1-for-30 reverse stock split of its Class A and Class B common stock. The reverse stock split reduced the number of outstanding shares of the Company’s Class A common stock from approximately 137.5 million shares to approximately 4.6 million shares, and the number of outstanding shares of the Company’s Class B common stock from approximately 4.0 million shares to approximately 135 thousand shares.

Audacy extends digital distribution of its radio stations and podcast library to TuneIn, reaching over 200 additional platforms and connected devices.

Audacy, Inc. (NYSE: AUD) is set to release its 2023 first quarter financial results on May 10, 2023, before market opening. A conference call to discuss the results will be held at 10:00 a.m. ET on the same day. Interested participants can join the call by dialing (877) 407-9208 or (201) 493-6784. The call will also be available via live webcast.

The earnings call allows for a review of financial performance and strategic initiatives by the company, known for its multi-platform audio content and engagement with 200 million consumers monthly across various brands.

The latest research by MAGNA and Audacy reveals that aligning advertisements with audience rituals significantly enhances brand metrics. Advertisers that matched their messages with listeners' routines observed increases in brand excitement (+10%) and relevance (+8%). The study, titled Aligning with Rituals: The Contextual Foundation of Audio, analyzed how ritual-based ads compared to genre-based ads and found that brands synchronizing with daily rituals enjoyed a +12% boost in consumer connection. Key findings highlight that 74% of listeners integrate audio into their rituals and that aligned ads can improve search (+12%) and purchase intent (+9%). The study surveyed 1,920 weekly audio listeners across various content types, emphasizing the effectiveness of contextually aligned ads in driving consumer engagement and brand favorability.

Audacy has appointed Jenna Weiss-Berman as Executive Vice President of Podcasts, overseeing its podcast network and studios, including Pineapple Street Studios and Cadence13. Weiss-Berman will drive strategy and the development of new podcast content, collaborating with sports and news programming leadership. Max Linsky will continue to lead Pineapple Street Studios with Bari Finkel. Audacy aims to enhance its digital growth and unify content efforts across its podcast portfolio, which serves 200 million consumers monthly. The company has various development deals, including partnerships with Amy Poehler and Dan Taberski.