Audacy, Inc., along with its 47 affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of Texas on January 7, 2024. The debtor listed both its assets and liabilities in the range of $1 billion to $10 billion. The debtor is represented by John F Higgins, IV, Megan Young-John, and Michael Shane Johnson of Porter Hedges LLP as its legal counsel.