Audacy CEO David Field Steps Aside After 27 Years

January 29, 2025 12:00 pm

Audacy CEO David Field has stepped down after 27 years with the radio broadcaster and audio company. Audacy announced his exit Wednesday (Jan. 29) morning.

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Board of Directors member Kelli Turner will lead Audacy in an interim capacity as it searches for a permanent replacement.

The top executive’s departure comes at the close of a financial maelstrom for the company. Last January, the nation’s second-largest radio broadcaster filed for Chapter 11 bankruptcy in a bid to slash nearly $2 billion of funded debt.

Field, son of Audacy founder Joseph Field, will stay on in a special advisor role to the CEO and the board of directors. However, he will no longer serve on the board itself.

Turner joined the Audacy board in September 2024. She was previously managing director and CFO of Sun Capital Partners, a private investment firm.

Audacy CEO David Field Exits As Bankruptcy Proceedings Conclude

Just two days before Audacy CEO David Field’s exit, the financially-embattled company concluded Chapter 11 bankruptcy proceedings in a Houston federal district court. Audacy began restructuring efforts last January in an attempt to eliminate about $1.6 billion of funded debt, Variety previously reported.

David Field Reflects on Audacy’s Transformation in Farewell Letter https://t.co/LLK43KQ8c9 pic.twitter.com/7crMPyae7m
— Point-To-Point (@PTPmarketing) January 29, 2025

Sharing some parting thoughts, Field said he is leaving the company “in a strong competitive and financial position.”

“[Now] is the optimal time to pass the baton to new leadership,” Field said.

“An Indelible Mark on the Industry”

Outgoing Audacy CEO David Field joined Audacy (formerly Entercom) as president in 1998, gaining the CEO title in 2002. He worked as an investment banker for Goldman Sachs in New York prior to joining Entercom. The company changed its name to Audacy in 2021.

Board Chairman Michael Del Nin praised Field’s “indelible mark on the industry. He also shared how he had grown the company “from a few small radio stations into a scaled multi-platform audio content and entertainment powerhouse.”

Second only to iHeartMedia, Audacy owned 235 radio stations across 48 markets as of January 2024. Those markets include Los Angeles, New York, Atlanta, Chicago, San Francisco, and Seattle.

Featured image via X/Twitter