After Audacy filed for its prepackaged bankruptcy in a Houston court, the company filed a motion for an automatic stay of MacKenzie's hearing. The court halted all proceedings on the case.
According to a business plan, Audacy is looking toward a subscription streaming service that it hopes could deliver $20 million in annual revenue in the next three years.
Since Jack Benny and Bob Hope moved to television and Milton Berle and Sid Caesar were on top of the Nielsen TV ratings, radio has had to accept a “more humble slot in the media landscape”.