After the big buy-in from George Soros and as the dust begins settling from the announcement that Audacy CEO David Field was stepping down, comes a merger rumor.
David Field was family. The Field family built Entertainment Communications, Entercom, now Audacy. David Field once drove into town and told me he liked the morning show I was doing at KTAC and that he listened on the phone in Philly. Entercom owned KTAC and 3 other stations then.
Today, Audacy (stock price today is 0.1575) holds more than 200 stations and things are rather shaky over there. Cumulus, you know the story. No one wants to chance taking a job at Cumulus. Cumulus has stations going dark, layoffs are a regular thing.
Is this the climate for a take-over? What will George Soros’ position be?
The word that describes this situation is: Ewww!
