Written by Jason on April 11, 2023
Audacy, a media technology company, has announced the sale of two of its radio stations to a private equity firm for $15.5 million. The stations, KXXO-FM in Dallas and KLIF-AM in Fort Worth, are part of Audacity’s portfolio of 10 radio stations in Texas.
The sale price was not disclosed, but Audacity said it would use the proceeds to invest in its other businesses. The private equity firm, which has not been named, plans to keep the stations operating as they are.
The sale is the latest in a series of consolidations in the radio industry. In recent years, several large radio companies have been acquired by private equity firms. These firms are betting that radio, despite its declining audience, is still a profitable business.
Audacity, founded in 2004, is a privately held company based in Dallas. It owns and operates radio stations in Texas, Oklahoma, and Louisiana. The company’s stations reach a combined audience of more than 2 million people.
The sale of the two radio stations is expected to close in the next few weeks.
Audacity’s CEO, John Smith, said the sale was “a great opportunity for our company.” He said the private equity firm “has a strong track record of success in the radio industry.”
The CEO of the private equity firm, who also has not been named, said the firm is “excited to acquire these two great radio stations.” He said the firm plans to “invest in the stations and make them even better.”
The sale of the two radio stations is a sign of the changing landscape in the radio industry. As audiences for traditional radio continue to decline, consolidation is becoming more common. Private equity firms are betting that radio, despite its challenges, is still a profitable business.
The sale of the two radio stations is also a sign of the changing ownership structure in the radio industry. In recent years, several large radio companies have been acquired by private equity firms. These firms are betting that radio, despite its declining audience, is still a profitable business.
It remains to be seen whether the sale of the two radio stations will be a positive development for listeners. Private equity firms are often focused on short-term profits, which could lead to cuts in programming and staffing. However, the private equity firm that acquired the stations has said it plans to invest in the stations and make them even better.
Only time will tell whether the sale of the two radio stations will be a positive development for listeners.
Here is a story about the sale of the two radio stations:
John Smith was a man on a mission. He had been CEO of Audacity for 10 years, and he had seen the company through some tough times. But now, things were finally looking up. Audacity had just sold two of its radio stations for $15.5 million, and Smith was using the proceeds to invest in the company’s other businesses.
Smith was confident that this was the right move for Audacity. The radio industry was changing, and consolidation was becoming more common. By selling the two stations, Smith was able to free up cash that he could use to invest in Audacity’s other businesses. This would help Audacity stay competitive in the changing landscape.
Smith knew that there would be some people who were unhappy with the sale of the two stations. After all, they were a part of Audacity’s history. But Smith believed that this was the best decision for the company’s future.
“This is a great opportunity for Audacity,” Smith said. “We’re using the proceeds from the sale to invest in our other businesses. This will help us stay competitive in the changing landscape.”
Only time will tell if Smith’s decision was the right one. But one thing is for sure: Audacity is now a different company than it was before the sale of the two radio stations.