Business Wire | Oct 20, 2021 12:27PM EDT

Audacy Announces Acquisition of WideOrbit Digital Audio Streaming Technology and Operations

Oct. 20, 2021

PHILADELPHIA--(BUSINESS WIRE)--Oct. 20, 2021--Audacy, Inc. (NYSE: AUD) today announced the acquisition of an exclusive, perpetual license to WideOrbit's digital audio streaming technology and the related assets and operations of WO Streaming. This acquisition gives Audacy control of its product roadmap to deliver enhanced consumer-facing streaming features for its 170 million monthly listeners.

"The WideOrbit digital audio tech business perfectly complements our organic investments to make Audacy's digital platform the top choice for listeners, clients and partners," said David Field, Chairman, President and Chief Executive Officer, Audacy.

Audacy will operate WO Streaming under the name AmperWave. The entire WO Streaming team, led by John Morris, SVP Streaming, has joined Audacy.

WO Streaming, now AmperWave, is a leading cloud-based distribution and monetization platform for live and on-demand audio streams.

About Audacy

Audacy, Inc. (NYSE: AUD) is a scaled, multi-platform audio content and entertainment company with the country's best radio broadcasting group, a leader in virtually every segment of audio, and America's #1 creator of original, premium audio. Audacy engages over 170 million consumers each month, bringing people together around the news, sports, podcasts and music that matter to them. Learn more at www.audacyinc.com, Facebook (Audacy Corp) and Twitter (@AudacyCorp).

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CONTACT: Ashok Sinha Audacy 917-656-5800 Ashok.Sinha@Audacy.com

CONTACT: Meredith Tiger Audacy 516-551-8511 Meredith.Tiger@Audacy.com

CONTACT: David Heim Audacy 908-472-3927 David.Heim@Audacy.com