Audacy President/CEO David Field is stepping down with Audacy board member Kelli Turner named interim President/CEO.

Field will continue to serve as Special Advisor to the CEO and Board.

Audacy Chairman of the Board Michael Del Nin said, “David has left an indelible mark on the industry, growing Audacy from a few small radio stations into a scaled multi-platform audio content and entertainment powerhouse. He has built a great company with leading positions across the country’s largest markets and an outstanding portfolio of exclusive, premium audio content. Under David’s dedicated leadership, Audacy has been positioned for long-term success, and we look forward to working with Kelli and the entire team as the company begins its next exciting chapter.”

Field commented, “Since I joined Audacy, then Entercom, we have grown from $10 million in revenues with ten niche radio stations into a $1.2 billion, multi-platform audio leader with one of the country’s two scaled radio broadcast groups, one of the largest podcast networks and the unrivaled top position in sports audio. Audacy recently completed a very successful 2024, delivering industry-leading EBITDA growth of more than 70% through the third quarter and significant revenue share gains across our radio and digital businesses. With the company in a strong competitive and financial position, now is the optimal time to pass the baton to new leadership. I am deeply proud of our extraordinary team and everything we have accomplished for our listeners, customers, partners, and communities. The company is in great hands, and I look forward to seeing the next chapter of Audacy’s success.”

Turner has served on the Board of Audacy since September 2024. She most recently was Managing Director and Chief Financial Officer of private investment firm Sun Capital Partners and was previously President/COO of music licensing and rights management company SESAC while holding executive roles at companies including RSL Group, Martha Stewart Living, Time Warner, Allen & Company, and Citigroup. Turner has also served on the boards of advertising and music technology companies including DoubleVerify, Downtown Music Holdings, and Central European Media Enterprises Ltd.

The resignation ends the run of the Field family atop Audacy. Joseph Field founded Entercom in 1968 with the purchase of FMs San Francisco, Houston and Minneapolis. David would succeed his father as President in 1998 and CEO in 2002. Following the 2017 merger with CBS Radio, Entercom would rebrand as Audacy in March 2021.

Field shared the following memo with Audacy employees:

I am writing to share the news that I am stepping down from my role as the CEO and President of Audacy effective today. One of our Board members, Kelli Turner, will be taking over duties on an interim basis while the company conducts a search for a new permanent leader. Kelli is an accomplished leader with a wealth of experience, and I am confident that she wi provide strong leadership for Audacy during this transition period. I will also become a Special Advisor to the CEO and Board of Directors and look forward to serving Audacy in this new role.

When I started at Audacy (then Entercom), we had $10 million in revenues with ten niche radio stations. Today, we are a $1.2 billion, multi-platform audio leader with one of the country’s two scaled radio broadcast groups, one of the largest podcast networks, the unrivaled leader in sports audio, and so much more.

The past few years have been difficult as we have faced the secular headwinds impacting virtually all media companies. Together, we completed a highly effective restructuring, emerging strong, healthy and well-positioned for the future.

We emerged from our restructuring last September with the industry’s strongest balance sheet. At the same time, we delivered industry-leading growth with EBITDA up roughly 70% through the third quarter of 2024, driven by significant revenue share gains across both our radio and digital businesses. I am also proud to note that we did all this while staying true to our values and serving our listeners and customers without disruption.

t has been 27 years since I took the helm at Audacy. With the company now in a strong competitive and financial position and building on a year of industry-leading growth, it is the optimal time to pass the baton to new leadership and for me to move on to pursue new goals and challenges.

I am deeply proud of our wonderful team and everything we have accomplished. All of the great work we do makes a meaningful difference for our listeners, customers, partners, and communities. The company has a deep pool of talent and is in great hands going into the future.

I will dearly miss working every day at this special company and being a part of this outstanding team of quality individuals. It has been a true honor to serve you over all of these years. I look forward to continuing to contribute to Audacy in my new role.

With great respect, appreciation, and all best wishes for the chapters ahead,

David