Soros Fund Set to Own Biggest Audacy Stake After Bankruptcy (1)

Soros Fund Management is positioned to become the biggest shareholder of Audacy Inc. when the radio and podcast company emerges from bankruptcy.

The investment firm founded by billionaire George Soros has scooped up more than $400 million of Audacy’s highest-ranking debt, bankruptcy court filings show. That makes it by far the biggest member of a group of lenders planning to swap their loans for stock in the broadcaster.

“The decision by our existing and new debtholders to become equity holders in Audacy represents a significant vote of confidence in our company and the future of the radio and audio ...