{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-24-041592","form_type":"8-K","ticker":null,"cik":"0001067837","company_name":"AUDACY, INC.","filed_at":"2024-02-21T23:59:59+00:00","discovered_at":"2026-05-14T18:03:23.277410+00:00","generated_at":"2026-06-05T21:38:21.760522+00:00","sec_items":["1.03","7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.95,"calibrated_materiality_score":0.95,"confidence":"high","headline":"Audacy bankruptcy court confirms prepackaged plan to equitize $1.6B debt, cancel equity","bullets":["Plan will equitize approximately $1.6B of funded debt, reducing total debt from ~$1.9B to ~$350M (80% reduction).","Existing Class A and Class B common stock (4,862,027 and 134,839 shares) cancelled with no distribution.","New common stock issued to DIP, first lien, and second lien holders; no public listing or SEC reporting planned.","Effective date subject to FCC approval; post-emergence board includes David Field and six creditor-nominated members."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-24-041592","json":"https://secwatch.observer/filing/0001193125-24-041592.json","markdown":"https://secwatch.observer/filing/0001193125-24-041592.md","text":"https://secwatch.observer/filing/0001193125-24-041592.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1067837/000119312524041592/0001193125-24-041592-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1067837/000119312524041592/d783622d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-05T21:38:21.760522+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"b90e507a6d9fcd97e9d37806295e905b3f608b01","claim":"AUDACY, INC. entered chapter 11 in United States Bankruptcy Court for the Southern District of Texas (petition 2024-01-07).","evidence_excerpt":"On January 7, 2024 (the “ Petition Date ”), the Debtors filed voluntary petitions for relief under chapter 11 of the Bankruptcy Code and commenced their chapter 11 cases (the “ Chapter 11 Cases ”) in this United States Bankruptcy Court for the Southern District of Texas (this “ Court ”)","evidence_source":"SEC 8-K Item 1.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1067837/000119312524041592/0001193125-24-041592-index.htm","confidence":0.99,"family_label":"Distress & Bankruptcy","details":[{"label":"Proceeding","value":"chapter 11"},{"label":"Court","value":"United States Bankruptcy Court for the Southern District of Texas"},{"label":"Petition","value":"2024-01-07"}],"fact_type":"distress_event"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}