Audacy Announces Acquisition of WideOrbit Digital Audio Streaming Technology and Operations

Rhea-AI Summary

Audacy (NYSE: AUD) has acquired an exclusive, perpetual license to WideOrbit’s digital audio streaming technology and related assets. This strategic move is aimed at enhancing Audacy’s digital platform, which serves 170 million monthly listeners. The new technology will allow Audacy to improve consumer streaming features and control its product roadmap. WO Streaming will now operate under the name AmperWave, with its team joining Audacy to enhance cloud-based audio distribution and monetization.

Positive

• Acquisition enhances Audacy's digital platform capabilities.
• Control over product roadmap allows for tailored streaming features.
• Integration of WO Streaming team strengthens operational expertise.

Negative

• None.

Enables Audacy to Enhance and Accelerate its Digital Platform and Provide Audio Streaming and Monetization Services to Customers

PHILADELPHIA--(BUSINESS WIRE)-- Audacy, Inc. (NYSE: AUD) today announced the acquisition of an exclusive, perpetual license to WideOrbit’s digital audio streaming technology and the related assets and operations of WO Streaming. This acquisition gives Audacy control of its product roadmap to deliver enhanced consumer-facing streaming features for its 170 million monthly listeners.

“The WideOrbit digital audio tech business perfectly complements our organic investments to make Audacy’s digital platform the top choice for listeners, clients and partners, said David Field, Chairman, President and Chief Executive Officer, Audacy.”

Audacy will operate WO Streaming under the name AmperWave. The entire WO Streaming team, led by John Morris, SVP Streaming, has joined Audacy.

WO Streaming, now AmperWave, is a leading cloud-based distribution and monetization platform for live and on-demand audio streams.

About Audacy

Audacy, Inc. (NYSE: AUD) is a scaled, multi-platform audio content and entertainment company with the country’s best radio broadcasting group, a leader in virtually every segment of audio, and America’s #1 creator of original, premium audio. Audacy engages over 170 million consumers each month, bringing people together around the news, sports, podcasts and music that matter to them. Learn more at www.audacyinc.com, Facebook (Audacy Corp) and Twitter (@AudacyCorp).

View source version on businesswire.com: https://www.businesswire.com/news/home/20211020005698/en/

Ashok Sinha

Audacy

917-656-5800

Ashok.Sinha@Audacy.com

Meredith Tiger

Audacy

516-551-8511

Meredith.Tiger@Audacy.com

David Heim

Audacy

908-472-3927

David.Heim@Audacy.com

Source: Audacy, Inc.

FAQ

What technology did Audacy acquire from WideOrbit?

Audacy acquired an exclusive, perpetual license to WideOrbit's digital audio streaming technology and related assets.

What is the purpose of Audacy's acquisition of WO Streaming?

The acquisition aims to enhance Audacy's digital audio platform and improve streaming features for its listeners.

What will WO Streaming be called after the acquisition?

After the acquisition, WO Streaming will operate under the name AmperWave.

How many monthly listeners does Audacy serve?

Audacy serves approximately 170 million monthly listeners.

Who is leading the WO Streaming team now part of Audacy?

The WO Streaming team is led by John Morris, who is the SVP Streaming.