Audacy, formerly known as Entercom, has announced the closure of Pineapple Street, a podcast startup it previously acquired. This closure affects around 30 employees as part of a broader strategy to realign resources towards its core podcasting strengths. The move follows significant layoffs earlier in the year amidst bankruptcy restructuring. Since Kelli Turner became CEO in March, the company has been making tough decisions, reflecting its efforts to stabilize and modernize its business in an evolving media landscape.
This difficult decision aligns our resources with our core strengths and the most promising growth areas for our podcasting business. We're sorry to say goodbye to talented colleagues and are grateful for their contributions.
Audacy has been proceeding with bankruptcy adjustments this year. That legal process was completed in January and a substantial across-the-board layoff action trimmed 300 Audacy employees in March.
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