Audacy, Inc. is an American broadcasting company based in
Philadelphia
Philadelphia, often called Philly, is the largest city in the Commonwealth of Pennsylvania, the sixth-largest city in the U.S., the second-largest city in both the Northeast megalopolis and Mid-Atlantic regions after New York City. Sinc ...
,
Pennsylvania
Pennsylvania (; ( Pennsylvania Dutch: )), officially the Commonwealth of Pennsylvania, is a state spanning the Mid-Atlantic, Northeastern, Appalachian, and Great Lakes regions of the United States. It borders Delaware to its southeast, ...
. Founded in 1968 as Entercom Communications Corporation, it is the second largest radio company in the United States, owning 235 radio stations across 48
media market
A media market, broadcast market, media region, designated market area (DMA), television market area, or simply market is a region where the population can receive the same (or similar) television and radio station offerings, and may also incl ...
s.
In November 2017, the company merged with
CBS Radio
CBS Radio was a radio broadcasting company and radio network operator owned by CBS Corporation and founded in 1928, with consolidated radio station groups owned by CBS and Westinghouse Broadcasting/Group W since the 1920s, and Infinity Broadc ...
. The transaction was structured as an exchange offer whereby owners of
CBS Corporation
The second incarnation of CBS Corporation (the first being a short-lived rename of the Westinghouse Electric Corporation) was an American multinational media conglomerate with interests primarily in commercial broadcasting, publishing, and t ...
common shares (i.e., not the multiple-voting shares held by
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. It is not clear how many CBS shareholders retained these Audacy shares, and the present-day
Paramount Global
Paramount Global (doing business as Paramount) is an American multinational mass media and entertainment conglomerate owned and operated by National Amusements (79.4%) and headquartered at One Astor Plaza in Midtown Manhattan, New York. I ...
has never held any ownership in the company.
History
Final logo used under the Entercom brand
Joseph M. Field founded the company as Entertainment Communications (which would later be shortened to Entercom) on October 21, 1968, on the conviction that
FM broadcasting
FM broadcasting is a method of radio broadcasting using frequency modulation (FM). Invented in 1933 by American engineer Edwin Armstrong, wide-band FM is used worldwide to provide high fidelity sound over broadcast radio. FM broadcasting is cap ...
, then in its infancy, would eventually surpass AM broadcasting as the leading radio broadcast band.
During the 1990s, the
Federal Communications Commission
The Federal Communications Commission (FCC) is an independent agency of the United States federal government that regulates communications by radio, television, wire, satellite, and cable across the United States. The FCC maintains jurisdiction ...
's regulations on the ownership of multiple radio stations were eased, beginning with the introduction of duopoly rules, which allowed a company to own two stations in each radio market. Entercom took advantage of the change to expand its presence in the markets where it already operated. In April 1995, the company paid $24.5 million for three stations in Portland, Oregon, acquiring
KGON
KGON (92.3 FM) is a commercial radio station in Portland, Oregon. The station airs a classic rock radio format and is owned by Audacy, Inc. KGON broadcasts in the HD Radio format. Its HD2 subchannel carries a Blues format, known as "Waterfron ...
, a classic rock station;
KFXX, an all-sports station; and
KMUZ-FM, a modern rock station.
["Entercom Growth Slow, Steady". ]
In January 1999, Entercom went public in an
IPO
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
in which it raised around $236 million.
In July 1999, the company purchased 43 radio stations from
Sinclair Broadcast Group
Sinclair Broadcast Group, Inc. (SBG) is a publicly traded American telecommunications conglomerate that is controlled by the descendants of company founder Julian Sinclair Smith. Headquartered in the Baltimore suburb of Cockeysville, Maryland, ...
for $821.5 million in cash.
It was Entercom's largest deal to date.
["Entercom inks Sinclair radio deal"]
''Philadelphia Business Journal'', August 2, 1999 The deal included stations in eight markets,
Kansas City, Missouri
Kansas City (abbreviated KC or KCMO) is the largest city in Missouri by population and area. As of the 2020 census, the city had a population of 508,090 in 2020, making it the 36th most-populous city in the United States. It is the central ...
;
Milwaukee
Milwaukee ( ), officially the City of Milwaukee, is both the most populous and most densely populated city in the U.S. state of Wisconsin and the county seat of Milwaukee County. With a population of 577,222 at the 2020 census, Milwaukee is ...
;
;
Memphis, Tennessee
Memphis is a city in the U.S. state of Tennessee. It is the seat of Shelby County in the southwest part of the state; it is situated along the Mississippi River. With a population of 633,104 at the 2020 U.S. census, Memphis is the second-mos ...
;
Buffalo, New York
Buffalo is the second-largest city in the U.S. state of New York (behind only New York City) and the seat of Erie County. It is at the eastern end of Lake Erie, at the head of the Niagara River, and is across the Canadian border from South ...
;
Norfolk, Virginia
Norfolk ( ) is an independent city in the Commonwealth of Virginia in the United States. Incorporated in 1705, it had a population of 238,005 at the 2020 census, making it the third-most populous city in Virginia after neighboring Virginia Be ...
; and
Scranton
Scranton is a city in the Commonwealth of Pennsylvania, United States, and the county seat of Lackawanna County. With a population of 76,328 as of the 2020 U.S. census, Scranton is the largest city in Northeastern Pennsylvania, the Wyoming V ...
/
Wilkes-Barre, Pennsylvania
Wilkes-Barre ( or ) is a city in the U.S. state of Pennsylvania and the county seat of Luzerne County, Pennsylvania, Luzerne County. Located at the center of the Wyoming Valley in Northeastern Pennsylvania, it had a population of 44,328 in th ...
. The deal more than doubled both the number of stations under the company's control, and the number of markets in which it had stations. The acquisition made Entercom the fifth-largest radio broadcaster in the United States, with 88 stations in 17 markets.
That year, Entercom announced that it would direct its radio stations not to play songs that promoted violence.
On August 21, 2006, Entercom agreed to buy 15 mid-market stations from
CBS Radio
CBS Radio was a radio broadcasting company and radio network operator owned by CBS Corporation and founded in 1928, with consolidated radio station groups owned by CBS and Westinghouse Broadcasting/Group W since the 1920s, and Infinity Broadc ...
. Locations included
Austin, Texas
Austin is the capital city of the U.S. state of Texas, as well as the county seat, seat and largest city of Travis County, Texas, Travis County, with portions extending into Hays County, Texas, Hays and Williamson County, Texas, Williamson co ...
;
Cincinnati
Cincinnati ( ) is a city in the U.S. state of Ohio and the county seat of Hamilton County. Settled in 1788, the city is located at the northern side of the confluence of the Licking and Ohio rivers, the latter of which marks the state line wit ...
; Memphis, Tennessee; and
Rochester, New York
Rochester () is a City (New York), city in the U.S. state of New York (state), New York, the county seat, seat of Monroe County, New York, Monroe County, and the fourth-most populous in the state after New York City, Buffalo, New York, Buffalo, ...
. Due to ownership limitations set by the FCC, Entercom had to sell three of its stations in the Rochester market; these were acquired by
Stephens Media Group. Shortly after the transaction, the company exited the Cincinnati market by trading all four of its stations in Cincinnati and three of its stations in Seattle in exchange for three stations in San Francisco in a deal with
Bonneville International
Bonneville International Corporation is a media and broadcasting company, wholly owned by the Church of Jesus Christ of Latter-day Saints (LDS Church) through its for-profit arm, Deseret Management Corporation. It began as a radio and TV networ ...
. A year later, Entercom was investigated for
payola
Payola, in the music industry, is the illegal practice of paying a commercial radio station to play a song without the station disclosing the payment. Under US law, a radio station must disclose songs they were paid to play on the air as spons ...
and fined $4.45 million by the FCC.
In 2007, Entercom station
KDND
KDND (107.9 MHz) was an FM radio station licensed to Sacramento, California, United States. The station first signed on in 1947 as KXOA-FM, an FM simulcast of AM station KXOA, before separating itself with distinct programming, includin ...
was sued after a participant in a "Hold Your Wee For a
Wii
The Wii ( ) is a home video game console developed and marketed by Nintendo. It was released on November 19, 2006, in North America and in December 2006 for most other Regional lockout, regions of the world. It is Nintendo's fifth major ho ...
" contest held by the station's morning show died of
water intoxication
Water intoxication, also known as water poisoning, hyperhydration, overhydration, or water toxemia, is a potentially fatal disturbance in brain functions that results when the normal balance of electrolytes in the body is pushed outside safe li ...
.
In May 2014, Entercom announced its launch of SmartReach Digital product line focused on creating
digital marketing
Digital marketing is the component of marketing that uses the Internet and online based digital technologies such as desktop computers, mobile phones and other digital media and platforms to promote products and services. Its development duri ...
options for small and medium businesses.
On December 8, 2014, Entercom announced its acquisition of
Lincoln Financial Media
Lincoln Financial Media was a subsidiary of Lincoln National Corporation that owned radio stations in the United States. The division was formed in 2006 following the company's acquisition of Jefferson-Pilot's television and radio operations, wh ...
for $105 million; the deal gave the company 14 additional stations in
Atlanta
Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,715 ...
;
Denver
Denver () is a consolidated city and county, the capital, and most populous city of the U.S. state of Colorado. Its population was 715,522 at the 2020 census, a 19.22% increase since 2010. It is the 19th-most populous city in the Unit ...
;
Miami
Miami ( ), officially the City of Miami, known as "the 305", "The Magic City", and "Gateway to the Americas", is a East Coast of the United States, coastal metropolis and the County seat, county seat of Miami-Dade County, Florida, Miami-Dade C ...
; and
San Diego
San Diego ( , ; ) is a city on the Pacific Ocean coast of Southern California located immediately adjacent to the Mexico–United States border. With a 2020 population of 1,386,932, it is the List of United States cities by population, eigh ...
. To comply with FCC ownership limits in the Denver market and DOJ antitrust concerns, Entercom entered into an exchange agreement with Bonneville under which Entercom exchanged four stations in Denver for classic rock station
KSWD in Los Angeles and $5 million in additional consideration. The stations Entercom exchanged with Bonneville were KOSI-FM, KYGO-FM, KKFN-FM and KEPN-AM. Entercom previously owned KOSI-FM, while the remaining stations were acquired through the acquisition of LFM.
Entercom and Bonneville began operating the exchanged stations under time brokerage agreement (TBAs) once the LFM transaction was completed.
In November 2015, the swap deal was closed successfully.
In October 2016, Entercom announced that it would acquire four radio stations in
Charlotte, North Carolina
Charlotte ( ) is the most populous city in the U.S. state of North Carolina. Located in the Piedmont region, it is the county seat of Mecklenburg County. The population was 874,579 at the 2020 census, making Charlotte the 16th-most populo ...
, from
Beasley Broadcast Group
Beasley Broadcast Group, Inc., based in Naples, Florida, is an owner/operator of radio stations in the United States. , the company owned 63 stations under the Beasley Media Group name.
History
The company was founded in 1961 by George G. Bea ...
for $24 million in cash. The deal closed in January 2017 and
WBT AM/FM,
WLNK
WLNK (107.9 FM) is a commercial radio station licensed to serve Charlotte, North Carolina. The station is owned by Urban One. WLNK broadcasts a hot adult contemporary radio format. Studios are located at One Julian Price Place on West Morehead S ...
-FM and
WFNZ-AM joined Entercom.
Richard J. Schmaeling became Executive Vice President and Chief Financial Officer on April 18, 2017. In May 2017, Mike Dee joined the company in a newly created position as President of Sports.
On August 3, 2017, Entercom announced the purchase of a 45% stake in
Cadence13
Cadence13 (formerly DGital Media Inc.) is a media company based in New York City that creates, distributes, and monetizes audio content, primarily podcasts. The company was founded in 2015 and is a division of Audacy, Inc. The company is helmed ...
(formerly DGital Media), a
startup that handles ad sales and distribution for podcasts, including ''
Pod Save America
''Pod Save America'' is an American progressive political podcast produced and distributed by Crooked Media. The podcast debuted in January 2017 and airs twice weekly, with the Tuesday edition hosted by former Barack Obama staffers Jon Favreau, ...
'', ''Recode Decode'' and ''
The Tony Kornheiser Show
''The Tony Kornheiser Show'' is a sports podcast talk show out of Washington, D.C., hosted by Tony Kornheiser, which was originally a sports radio talk show appeared on WTEM from 1992 to 1997; on ESPN Radio between 1998 and 2004; back on WTEM ...
''.
On Suicide Prevention Day in 2017 Entercom launched “I’m Listening,” a program dedicated to ending the stigma of talking about Mental Health.
On June 25, 2018, Entercom announced that Radio.com would become the exclusive streaming provider for all of its stations, beginning with its legacy stations on July 6, and former CBS Radio stations beginning August 1, ending its relationship with the third-party service
TuneIn
TuneIn is a global audio streaming service delivering live news, radio, sports, music, and podcasts to over 75 million monthly active users.
TuneIn is operated by the company TuneIn Inc. which is based in San Francisco, California. The compan ...
. All Entercom properties were also branded on-air as "A Radio.com station".
Following the termination of its deal with United States Traffic Network, Entercom launched an internal Traffic Weather and Information Network (TWIN) in August 2018.
In September 2018, Entercom's social responsibility platform Entercom Serves began in order to focus on important issues in the communities the company serves including children’s health, diversity, civic education, the environment, mental health and the military community. Later that year, Entercom launched CHANNEL Q, an LGBTQ+ Talk Radio Network providing LGBTQ+ news and information, pop culture and new music.
In February 2019 Radio.com Sports was created, featuring appearances from experts on Entercom sports stations across the country.
Mercedes-Benz
Mercedes-Benz (), commonly referred to as Mercedes and sometimes as Benz, is a German luxury and commercial vehicle automotive brand established in 1926. Mercedes-Benz AG (a Mercedes-Benz Group subsidiary established in 2019) is headquartere ...
was the first sponsor to sign on as a brand partner.
On February 13, 2019, Entercom announced that it would trade its Indianapolis cluster (
WNTR
WNTR (107.9 FM) is a commercial radio station located in Indianapolis, Indiana. WNTR airs an adult contemporary format under the ownership of Cumulus Media. Its studios are located on North Meridian Street, and its transmitter tower is on the n ...
,
WXNT
WXNT (1430 AM) is a commercial radio station in Indianapolis, Indiana. The station is owned by Cumulus Media, and carries an all-sports radio format, as an affiliate of the CBS Sports Radio Network. WXNT's schedule consists of CBS Sports Rad ...
, and
WZPL
WZPL (99.5 FM) is a radio station licensed to Greenfield, Indiana, and serving the Indianapolis metropolitan area. The station airs a Top 40 (CHR) format. WZPL is owned by Cumulus Media. Its studios are located on North Shadeland Avenue on the ...
) to
Cumulus Media
Cumulus Media, Inc. is an American broadcasting company and is the third largest owner and operator of AM and FM radio stations in the United States behind Audacy and iHeartMedia. As of June 2019, Cumulus lists ownership of 428 stations in 8 ...
for
WNSH (now WXBK) in
New York City
New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...
,
WMAS-FM in
Enfield, Connecticut
Enfield is a town in Hartford County, Connecticut, United States, first settled by John and Robert Pease of Salem, Massachusetts Bay Colony. The population was 42,141 at the 2020 census. It is bordered by Longmeadow, Massachusetts, and East Long ...
, and
WHLL
WHLL (1450 AM) – branded 98.1 Hall of Fame Country – is a commercial country music radio station licensed to Springfield, Massachusetts. Owned by Audacy, Inc., the station serves the Springfield metropolitan area; and the Pioneer Valley of ...
in
Springfield, Massachusetts
Springfield is a city in the Commonwealth of Massachusetts, United States, and the seat of Hampden County. Springfield sits on the eastern bank of the Connecticut River near its confluence with three rivers: the western Westfield River, the ...
. Both companies began operating their newly acquired stations via LMA on March 1; the swap was completed on May 13, 2019.
In April 2019, Entercom reached a distribution agreement with
Waze
Waze (; he, ווייז, label=Hebrew), formerly FreeMap Israel, is a subsidiary company of Google that provides satellite navigation software on smartphones and other computers that support the Global Positioning System (GPS). In addition to ...
, giving drivers the ability to access Radio.com's podcasts and on-demand audio content through Waze.
On August 19, 2019, Entercom launched the Radio.com Sports Digital Network, a collection of daily live audio and video programming from the company’s sports stations. Later that month, Paul Suchman became the company’s Chief Marketing Officer.
In September 2019, Entercom partnered with Apple to integrate its news, sports and music stations into the Apple iOS13 software and soon after, the company expanded RADIO.COM’s accessibility onto Samsung’s Bixby marketplace.
Early in 2020, Entercom opened an HD Radio Sound Space in Los Angeles as an event space and home for future live events. The space was opened with a live performance from
Coldplay
Coldplay are a British rock band formed in London in 1997. They consist of vocalist and pianist Chris Martin, guitarist Jonny Buckland, bassist Guy Berryman, drummer Will Champion and creative director Phil Harvey. They met at University Col ...
.
In response to the COVID-19 pandemic, Entercom developed the Stay Connected programming that included "Heroes & Difference Makers," and "Love Local," and “I'm Listening: Stay Connected," a daily digital series on mental health hosted by "LOVELINE"'s Dr. Chris Donaghue.
In September 2020
Clark Atlanta University
Clark Atlanta University (CAU or Clark Atlanta) is a private, Methodist, historically black research university in Atlanta, Georgia. Clark Atlanta is the first Historically Black College or University (HBCU) in the Southern United States. Found ...
partnered with Entercom, to give Mass Media Arts Students at the university access to company representatives in programming, sales, digital, and on-air talent.
On October 21, 2020, Entercom announced a partnership with the
National Urban League
The National Urban League, formerly known as the National League on Urban Conditions Among Negroes, is a nonpartisan historic civil rights organization based in New York City that advocates on behalf of economic and social justice for African Am ...
to advance racial justice and equity in the communities they serve.
In 2020, Radio.com established partnerships with SoundHound Inc and Beasley Media Group.
Also in 2020, streaming platform Twitch added the video feeds from a number of Radio.com's sports stations with branded channels and
GM added Radio.com to their in-dash application in Chevrolet, GMC, Buick, and Cadillac vehicles.
In March 2021, Entercom acquired podcast ad network Podcorn in a deal valued at $22.5 million. The company also reached a long-term licensing agreement with Global Music Rights (GMR), allowing the company to perform all of the songs from songwriters and publishers represented by the
performance rights organization
A performance rights organisation (PRO), also known as a performing rights society, provides intermediary functions, particularly collection of royalties, between copyright holders and parties who wish to use copyrighted works ''publicly'' in loc ...
.
On March 30, 2021, after more than 50 years as Entercom, the company rebranded as Audacy to clarify its position as a scaled multi-platform audio content and entertainment company. The Radio.com name was also rebranded as the Audacy app. On the same day, Audacy and BetMGM agreed to a multi-year deal designating the sports betting and gaming platform as the preferred sports betting partner with Audacy.
Merger with CBS Radio
On February 2, 2017, Entercom announced that it had agreed to merge with
CBS Radio
CBS Radio was a radio broadcasting company and radio network operator owned by CBS Corporation and founded in 1928, with consolidated radio station groups owned by CBS and Westinghouse Broadcasting/Group W since the 1920s, and Infinity Broadc ...
. The purchase will give Entercom operations in 23 of the top 25 markets, and make it the second-largest owner of radio stations in the US, behind
iHeartMedia
iHeartMedia, Inc., formerly CC Media Holdings, Inc., is an American mass media corporation headquartered in San Antonio, Texas. It is the holding company of iHeartCommunications, Inc. (formerly Clear Channel Communications, Inc.), a company fou ...
. Under the terms of the
Reverse Morris Trust
A Reverse Morris Trust in United States law is a transaction that combines a divisive reorganization (spin-off) with an acquisitive reorganization ( statutory merger) to allow a tax-free transfer (in the guise of a merger) of a subsidiary. It may b ...
, the company would retain the Entercom name, board of directors and base of operations, but CBS shareholders would hold 72% of its stock.
The company also shut down
KDND
KDND (107.9 MHz) was an FM radio station licensed to Sacramento, California, United States. The station first signed on in 1947 as KXOA-FM, an FM simulcast of AM station KXOA, before separating itself with distinct programming, includin ...
in Sacramento and returned its license to the FCC, with its programming moved to sister station
KUDL
KUDL (106.5 FM) is a radio station in Sacramento, California. Owned by Audacy, Inc., it broadcasts a Top 40 (CHR) format branded as ''106.5 The End''. Its studios are located in Foothill Farms (with a Sacramento address) and its transmitter i ...
. The FCC had designated that the renewal of KDND's license would be subject to a hearing over allegations it had failed to operate in the public interest.
On September 26, 2017,
KSOQ-FM,
WGGI and
KSWD were sold to the
Educational Media Foundation
Educational Media Foundation (formerly EMF Broadcasting, abbreviated EMF) is an American nonprofit Christian media ministry based in Franklin, Tennessee, a suburb of Nashville.
EMF is the parent company of K-LOVE and Air1—the world's largest ...
. KSWD and WGGI affiliated with the EMF's
K-Love Christian music network, and KSOQ with its
Air1 network.
To comply with federal ownership caps, Entercom stated that it would divest at least 15 stations.
On November 1, 2017, Entercom announced a settlement with the Department of Justice, which allowed their merger with CBS Radio.
The company also announced a series of asset exchange agreements with
iHeartMedia
iHeartMedia, Inc., formerly CC Media Holdings, Inc., is an American mass media corporation headquartered in San Antonio, Texas. It is the holding company of iHeartCommunications, Inc. (formerly Clear Channel Communications, Inc.), a company fou ...
and Beasley Broadcast Group in
Boston
Boston (), officially the City of Boston, is the state capital and most populous city of the Commonwealth of Massachusetts, as well as the cultural and financial center of the New England region of the United States. It is the 24th- mo ...
,
Seattle
Seattle ( ) is a seaport city on the West Coast of the United States. It is the seat of King County, Washington. With a 2020 population of 737,015, it is the largest city in both the state of Washington and the Pacific Northwest regio ...
,
Richmond
Richmond most often refers to:
* Richmond, Virginia, the capital of Virginia, United States
* Richmond, London, a part of London
* Richmond, North Yorkshire, a town in England
* Richmond, British Columbia, a city in Canada
* Richmond, California, ...
and
Chattanooga
Chattanooga ( ) is a city in and the county seat of Hamilton County, Tennessee, United States. Located along the Tennessee River bordering Georgia, it also extends into Marion County on its western end. With a population of 181,099 in 2020, ...
; and
local marketing agreement
In North American broadcasting, a local marketing agreement (LMA), or local management agreement, is a contract in which one company agrees to operate a radio or television station owned by another party. In essence, it is a sort of lease or tim ...
s with Bonneville International Corporation in
San Francisco
San Francisco (; Spanish language, Spanish for "Francis of Assisi, Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the List of Ca ...
and
Sacramento
)
, image_map = Sacramento County California Incorporated and Unincorporated areas Sacramento Highlighted.svg
, mapsize = 250x200px
, map_caption = Location within Sacramento ...
.
On November 9, 2017, the FCC gave the final approval needed for the Entercom merger by granting two 6-month waivers for market station limits in Miami and San Francisco. The merger occurred at midnight on November 17, 2017. Later that day, Entercom would switch
WBMP in New York to alternative. This would then be followed up by
WJMK in Chicago's switch to classic hip-hop and
KVIL
KVIL (103.7 FM, ''Alt 103.7'') is a commercial radio station dual-licensed to Highland Park and Dallas, Texas. It is owned by Audacy, Inc. and it serves the Dallas/Fort Worth Metroplex in North Texas. The station's studios are located along ...
in Dallas-Ft. Worth's flip to alternative. The company also introduced a new corporate logo as well as other corporate strategy changes. The Entercom Divestiture Trust then entered into agreements with Bonneville International to operate its stations on their behalf.
Shortly afterward, the company announced renewed radio broadcasting partnerships with the
Minnesota Twins
The Minnesota Twins are an American professional baseball team based in Minneapolis. The Twins compete in Major League Baseball (MLB) as a member club of the American League (AL) Central Division. The team is named after the Twin Cities area w ...
and
Philadelphia Eagles
The Philadelphia Eagles are a professional American football team based in Philadelphia. The Eagles compete in the National Football League (NFL) as a member club of the league's National Football Conference (NFC) East division. The team plays ...
. The company also has partnerships with additional professional teams including the
New York Yankees
The New York Yankees are an American professional baseball team based in the Boroughs of New York City, New York City borough of the Bronx. The Yankees compete in Major League Baseball (MLB) as a member club of the American League (AL) Amer ...
,
Boston Red Sox
The Boston Red Sox are an American professional baseball team based in Boston. The Red Sox compete in Major League Baseball (MLB) as a member club of the American League (AL) East division. Founded in as one of the American League's eight ...
,
Dallas Cowboys
The Dallas Cowboys are a professional American football team based in the Dallas–Fort Worth metroplex. The Cowboys compete in the National Football League (NFL) as a member club of the league's National Football Conference (NFC) East divisi ...
and
Detroit Red Wings
The Detroit Red Wings (colloquially referred to as the Wings) are a professional ice hockey team based in Detroit. The Red Wings compete in the National Hockey League (NHL) as a member of the Atlantic Division (NHL), Atlantic Division in the East ...
.
On July 19, 2018, Entercom announced that it would acquire Philadelphia market-leader
WBEB
WBEB (101.1 FM) is a commercial radio station licensed to serve Philadelphia, Pennsylvania. Owned by Audacy, Inc., the station broadcasts an adult contemporary format, switching to Christmas music for part of November and December. The broadca ...
from
Jerry Lee
Jerry Lee (born April 20, 1936 in Sharon, Pennsylvania) is the President oSpotQ Services Incand thLee Foundation A philanthropist of crime prevention, education and evidence-based policy-making, he was the original donor of the Stockholm Prize i ...
Radio for $57.5 million.
WXTU
WXTU (92.5 FM) is a commercial radio station in Philadelphia, Pennsylvania. Owned by Beasley Broadcast Group, the station broadcasts a country music format. Its studios and offices are located at 1 Bala Plaza on East City Avenue in Bala Cynwy ...
was divested back to its previous owner,
Beasley Broadcast Group
Beasley Broadcast Group, Inc., based in Naples, Florida, is an owner/operator of radio stations in the United States. , the company owned 63 stations under the Beasley Media Group name.
History
The company was founded in 1961 by George G. Bea ...
, to comply with ownership limits.
On August 3, 2018, Entercom announced that Bonneville would buy all eight stations for $141 million, which the company had been operating under LMA since after the merger with CBS Radio.
The deal was completed on September 21, 2018.
Sports betting
On September 3, 2019, Entercom’s RADIO.COM Sports signed a content distribution partnership with sports betting content platform
The Action Network that will include updates on Entercom Sports format stations and podcasts on RADIO.COM.
In late 2020, Entercom expanded into sports betting with a six-year partnership to make
FanDuel
FanDuel Group is an American gambling company that offers sportsbook, daily fantasy sports, horse racing, and online casino. The company operates sportsbooks in a number of states including New Jersey, Pennsylvania, Indiana and West Virginia, as ...
its official sportsbook. As part of the deal,
FanDuel
FanDuel Group is an American gambling company that offers sportsbook, daily fantasy sports, horse racing, and online casino. The company operates sportsbooks in a number of states including New Jersey, Pennsylvania, Indiana and West Virginia, as ...
promotions and betting odds would be aired on Entercom stations. The gaming brand would also have access to Entercom talent in markets where both companies operate.
Just weeks after announcing a partnership with
FanDuel
FanDuel Group is an American gambling company that offers sportsbook, daily fantasy sports, horse racing, and online casino. The company operates sportsbooks in a number of states including New Jersey, Pennsylvania, Indiana and West Virginia, as ...
, Entercom acquired sports data and iGaming affiliate platform QL Gaming Group in an all-cash deal for approximately $32 million. Following the acquisition of QL Gaming Group, Entercom launched “BetQL Network” on RADIO.COM on January 25, 2021. The network serves as home for the company’s sports betting content from its sports stations nationwide and is currently available over-the-air in several markets nationwide and digitally via the Audacy app.
In March 2021, Entercom and Rush Street Interactive (RSI) reached a multi-year partnership surrounding several sports betting audio initiatives. As part of this agreement, BetRivers, RSI’s flagship brand and online sportsbook, will be the official title sponsor of Radio.com’s You Better You Bet podcast.
Businesses
Radio
On March 30, 2021, Entercom rebranded as Audacy. With this rebranding, all Audacy stations are identified at the top of each hour as "An Audacy station."
Digital
Audacy app (formerly Radio.com)
As part of the company's merger with CBS Radio, Entercom acquired
Radio.com
Audacy, previously known as Radio.com, is a free broadcast and Internet radio platform owned by the namesake company Audacy, Inc. (formerly known as Entercom). The Audacy platform functions as a music recommender system and is the national umbr ...
,
Eventful
Eventful is an online calendar and events discovery service owned by Audacy, Inc. The service allows users to search for and track upcoming entertainment events in their area (such as concerts, festivals, and film presentations) involving specific ...
, and
play.it
Audacy, Inc. is an American broadcasting company based in Philadelphia, Pennsylvania. Founded in 1968 as Entercom Communications Corporation, it is the second largest radio company in the United States, owning 235 radio stations across 48 media ...
.
The Audacy app, formerly known as Radio.com, is an integrated digital platform offering over 230 locally programmed radio stations and their websites. Audacy currently has over 1,000 stations from more than 100 markets
On April 23, 2020, Radio.com streams were added to Sonos Radio, available in over 10 million homes globally. A week later, Radio.com was added to Comcast televisions.
The entire lineup of Locked On podcasts was added to Radio.com on February 10, 2021, following a content distribution partnership.
The Radio.com app became the
Audacy app when the company rebranded on March 30, 2021.
Podcasting
Audacy’s podcast network include
Cadence13
Cadence13 (formerly DGital Media Inc.) is a media company based in New York City that creates, distributes, and monetizes audio content, primarily podcasts. The company was founded in 2015 and is a division of Audacy, Inc. The company is helmed ...
,
Pineapple Street Media
Pineapple Street Studios (formerly Pineapple Street Media) is a podcast studio based in Brooklyn, New York. In August 2019, it was acquired by Entercom (now Audacy, Inc.). Pineapple's work includes multi-episode narratives, investigative journal ...
, and Podcorn. The network is one of the largest podcast platforms in the country (3000 podcasts) with an ever-expanding roster. The network has garnered over two billion downloads, including 30 million monthly unique listeners.
In 2019, Entercom announced its acquisition of Pineapple Street Media, a podcast producer, and the remaining portion of Cadence13. In 2021, Entercom acquired podcast ad network Podcorn, a deal valued at $22.5 million.
Cadence13
Cadence13, a division of Audacy, is a podcast studio based out of New York City. David Landau, Spencer Brown and Chris Corcoran founded Cadence13 as DGital Media alongside Michael Rolnick, a
venture capital
Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to start-up company, startups, early-stage, and emerging companies that have been deemed to have high growth poten ...
ist, in 2015.
In 2017, Entercom purchased a 45 percent stake in DGital Media for $9.7 million
and the company changed its name to Cadence13. Co-founder Chris Corcoran is Chief Content Officer and John Murphy is President.
The company has produced podcasts for Pulitzer Prize-winning historian and author
Jon Meacham
Jon Ellis Meacham (; born May 20, 1969) is an American writer, reviewer, historian and presidential biographer who is serving as the current Canon Historian of the Washington National Cathedral since November 7, 2021. A former executive editor ...
and NBA star
Kevin Durant
Kevin Wayne Durant ( ; born September 29, 1988), also known by his initials KD, is an American professional basketball player for the Brooklyn Nets of the National Basketball Association (NBA). He played one season of college basketball for t ...
.
Pineapple Street Studios
Pineapple Street Studios is a podcast studio based in
Brooklyn, New York
Brooklyn () is a borough of New York City, coextensive with Kings County, in the U.S. state of New York. Kings County is the most populous county in the State of New York, and the second-most densely populated county in the United States, be ...
. Originally named Pineapple Street Media, the company was founded in 2016 by former
BuzzFeed
BuzzFeed, Inc. is an American Internet media, news and entertainment company with a focus on digital media. Based in New York City, BuzzFeed was founded in 2006 by Jonah Peretti and John S. Johnson III to focus on tracking viral content. Ken ...
head of audio
Jenna Weiss-Berman
Jenna Weiss-Berman (born 1983) is a podcast producer and co-founder of Pineapple Street Media. Formerly she was director of audio for BuzzFeed.
Early life
Weiss-Berman is a native of Massachusetts and graduated from Oberlin College in 2005.
Caree ...
and Longform co-founder Max Linsky. In August 2019, Pineapple Street was acquired by Entercom and renamed Pineapple Street Studios.
Podcorn
Podcorn facilitates podcast ad campaigns and enables direct podcasters and advertisers to have direct relationships. Using algorithms, it matches podcasters to the most relevant brands.
The platform was founded by Agnes Kozera and David Kierzkowski following the acquisition by Google of their previous company
FameBit
YouTube BrandConnect (formerly FameBit) is an interactive entertainment company founded in 2013 and headquartered in Santa Monica, California.
The company develops and maintains an Influencer Marketing link sharing platform. As of 2016 the comp ...
, the leading marketplace for video influencers where brands and YouTube stars collaborated for branded content.
Live experiences
Each year, Audacy operates many live events, including The Night Before,
We Can Survive, Not So Silent Night, Riptide
and Stars & Strings in various cities throughout the country.
References
External links
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Companies listed on the New York Stock Exchange
Companies based in Philadelphia
Radio broadcasting companies of the United States
Mass media companies established in 1968
American companies established in 1968
1968 establishments in Pennsylvania
1999 initial public offerings