• Loading stock data...
Saturday, July 19, 2025

WFAN Helped Start—and Today Dominates—Sports Talk Radio. Its Parent Company Is Bankrupt

  • Radio and podcast company files for Chapter 11 protection with nearly $2 billion in debt.
  • No immediate operational changes are expected.
Seth Harrison/The Journal News / USA TODAY NETWORK

Even the perennial appeal of sports talk radio, a major presence in the country’s largest media markets, and strong ratings weren’t enough for radio and podcast company Audacy to avoid bankruptcy, yet another sign of the ongoing challenges for the media advertising market.

The Philadelphia-based Audacy has filed for Chapter 11 bankruptcy protection and reached a prepackaged agreement with most of its debt holders to turn about $1.6 billion of its $1.9 billion debt load into equity in the reorganized company. The moves marked a rapid fall for Audacy, which has roots going back to the 1960s as the former Entercom and which owns more than 200 radio stations—including WFAN-AM, the New York sports talk radio giant that essentially invented the genre in the 1980s with its 24-hour format and continues to dominate local ratings. 

“The perfect storm of sustained macroeconomic challenges over the past four years facing the traditional advertising market has led to sharp reduction of several billion dollars in cumulative radio ad spending,” said David Field, Audacy’s chairman, president, and CEO. “These market factors have severely impacted our financial condition.”

In addition to the extensive radio station presence, Audacy owns the Cadence13 and Pineapple Street Media podcasting studios and distributes shows by the likes of Stephen A. Smith and Jim Rome. The bankruptcy filing also arrives about six months after Audacy paid more than $3 million in executive retention bonuses, including $1 million to Field alone. 

No immediate operational impact to Audacy stations and podcasts is expected. The company’s issues, however, follow similar ones for top rival iHeartRadio Inc., which filed for Chapter 11 protection in 2018, and reemerged about a year later. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Netflix Beats Projections Again—and Plots Big Holiday Sports Slate

The streaming giant again beats analyst projections in every respect.

Cleveland’s WNBA Team Follows Golden State’s Proven Blueprint

The franchise will play its first WNBA season in 2028.
Jul 15, 2025; Cumberland, Georgia, USA; National League designated hitter Kyle Schwarber (12) of the Philadelphia Phillies hits a home run in the swing off of after the 2025 MLB All Star Game ended in a tie at Truist Park.

MLB All-Star Game Viewership Dips Despite Historic Swing-Off

Game viewership falls 3% despite late dramatics in the unique tiebreaker.
The 153rd Open

Trump Talks Continue, but Turnberry’s Open Return Is Uncertain

Trump Turnberry is still under consideration for future Open Championships.

Featured Today

Ryan Field Construction
exclusive

First Look Inside Northwestern’s $862 Million New Ryan Field

Five big things FOS learned on our exclusive stadium tour.
Jul 21, 2024; Ayrshire, SCT; Xander Schauffele celebrates with Claret Jug after winning the Open Championship golf tournament at Royal Troon.
July 17, 2025

The Boozy History and Traditions of The Open’s Claret Jug

The Open awards the world’s most famous wine decanter.
2025 PDC World Darts Championship Final - Luke Littler vs Michael Van Gerwen
July 16, 2025

A Teen Darts Prodigy Is Becoming Bigger Than the Game Itself

Luke ‘The Nuke’ Littler is cashing in on his devastatingly accurate shot.
May 31, 2025; Philadelphia, PA, USA; Sydney McLaughin-Levrone (USA) reacts before the women's 100m hurdles during the Grand Slam Track Philadelphia at Franklin Field
exclusive
July 13, 2025

Track’s New Money Is Running Into Old Problems

The sport’s big-money era has hit some speed bumps in 2025.

ESPN Bidding Against NBC, Apple for MLB Rights Package

The league continues to negotiate with multiple media-rights bidders.
July 15, 2025

WNBA Hits Fourth-Highest ABC Viewership With Clark-Bueckers Duel

Clark missed the first Fever vs. Wings game with an injury.
July 15, 2025

MLB Home Run Derby Draws 5.7M Viewers on ESPN, Up 5%

ESPN reverses the trend from last year and registers audience growth.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
Brittney Griner and Caitlin Clark
exclusive
July 15, 2025

‘Good Morning America’ Will Air From WNBA All-Star in First

The All-Star Game’s relevance has exploded with the league in recent years.
NBC Sports
exclusive
July 14, 2025

NBC Hiring Ex-Hawks Exec Grant Liffmann As NBA Front Office Insider

Liffmann spent the last three years with Atlanta after covering the Warriors.
F1
July 11, 2025

F1 ‘Poised’ to Choose Apple Money Over ESPN Reach

Formula One looks to be changing lanes.
Jul 10, 2025; Wimbledon, United Kingdom; Iga Swiatek of Poland at her on court interview after winning her match against Belinda Bencic of Switzerland on day 11 at All England Lawn Tennis and Croquet Club.
July 10, 2025

Wimbledon Set to Deliver Strong Finals Matchup for ESPN

Novak Djokovic is still in the hunt for his 25th Grand Slam.