Audacy, Inc.
| Formerly | Entercom Communications Corporation (1968–2021) |
|---|---|
| Company type | Private |
| OTC Pink: AUDAQ (2023–2024) NYSE: AUD (2021–2023) NYSE: ETM (1999–2021) Russell 2000 component (until 2023) | |
| Industry | Broadcasting |
| Predecessors |
|
| Founded | October 21, 1968 |
| Headquarters | , U.S. |
Area served | United States |
Key people | |
| Services | |
| Revenue | $1.463 billion (2018) |
| $250 million (2018) | |
| -$361 million (2018) | |
| Subsidiaries | |
| Website | audacyinc |
| Footnotes / references | |
| 1886 | Westinghouse Electric Corporation is founded as Westinghouse Electric & Manufacturing Company |
|---|---|
| 1912 | Famous Players Film Company is founded |
| 1913 | Lasky Feature Play Company is founded |
| 1914 | Paramount Pictures is founded |
| 1916 | Famous Players and Lasky merge as Famous Players–Lasky and acquire Paramount |
| 1927 | Famous Players–Lasky is renamed Paramount Famous Lasky Corporation; CBS is founded with investment from Columbia Records |
| 1929 | Paramount acquires 49% of CBS |
| 1930 | Paramount Famous Lasky Corporation is renamed Paramount Publix Corporation |
| 1932 | Paramount sells back its shares of CBS |
| 1934 | Gulf+Western is founded as the Michigan Bumper Corporation |
| 1935 | Paramount Publix Corporation is renamed Paramount Pictures |
| 1936 | National Amusements is founded as Northeast Theater Corporation |
| 1938 | CBS acquires Columbia Records |
| 1950 | Desilu is founded and CBS distributes its television programs |
| 1952 | CBS creates the CBS Television Film Sales division |
| 1958 | CBS Television Film Sales is renamed CBS Films |
| 1966 | Gulf+Western acquires Paramount |
| 1967 | Gulf+Western acquires Desilu and renames it Paramount Television (now CBS Studios) |
| 1968 | CBS Films is renamed CBS Enterprises |
| 1970 | CBS Enterprises is renamed Viacom |
| 1971 | Viacom is spun off from CBS |
| 1987 | National Amusements acquires Viacom |
| 1988 | CBS sells Columbia Records to Sony |
| 1989 | Gulf+Western is renamed Paramount Communications |
| 1994 | Viacom acquires Paramount Communications |
| 1995 | Paramount Television and United Television launch UPN; Westinghouse acquires CBS |
| 1997 | Westinghouse is renamed CBS Corporation |
| 2000 | Viacom acquires UPN and CBS Corporation |
| 2005 | Viacom splits into the second CBS Corporation and Viacom |
| 2006 | Skydance Media is founded as Skydance Productions; CBS Corporation shuts down UPN and replaces it with The CW |
| 2009 | Paramount and Skydance enter an agreement to co-produce and co-finance films |
| 2017 | CBS Corporation sells CBS Radio to Entercom (now Audacy) |
| 2019 | CBS Corporation and Viacom re-merge as ViacomCBS |
| 2022 | ViacomCBS is renamed Paramount Global |
| 2025 | Skydance acquires National Amusements and merges with Paramount Global as Paramount Skydance |
| 2026 | Paramount Skydance enters into a deal to acquire Warner Bros. Discovery |
Audacy, Inc. is an American broadcasting company based in New York City. Founded in 1968 as Entercom Communications Corp., it is the second largest radio company in the United States, owning over 220 radio stations across 47 media markets.
In November 2017, the company merged with CBS Radio. The transaction was structured as an exchange offer whereby owners of CBS Corporation common shares (i.e., not the multiple-voting shares held by CBS Corp parent company National Amusements) at the time of the merger could elect to exchange their shares for Entercom shares corresponding to a 72% stake in the combined company. The company changed its name from Entercom to Audacy on March 30, 2021. On April 9, the ticker symbol on the New York Stock Exchange changed from "ETM" to "AUD".
Audacy, Inc. emerged from bankruptcy on September 30, 2024, and is now a privately owned company. The new ownership group includes Soros Fund Management (which has controlling interest) as part of their other audio investments.