Audacy To Close Pineapple Street Podcast Studio

Audacy announced on Thursday, that it will close its Pineapple Street podcast studio, largely exiting the business of producing podcasts for third-party brands. 

The decision aligns with Audacy’s strategy to focus on its in-house podcasting efforts and core strengths, following its emergence from Chapter 11 bankruptcy in September 2024 with a restructured balance sheet, reducing its debt from $1.9 billion to $350 million. 

Pineapple Street Studios, acquired by Audacy in 2019 for a reported $18 million, produced companion podcasts for shows like HBO’s Game of Thrones, The Last of Us, and Apple TV+’s Severance. The closure will result in the layoff of nearly 30 employees, though Audacy will continue producing in-house podcasts, such as Fly on the Wall with Dana Carvey and David Spade and The Severance Podcast with Ben Stiller and Adam Scott, and distribute some third-party shows.

Soros Fund Management, led by billionaire George Soros, became Audacy’s largest shareholder after acquiring about $415 million of the company’s senior debt during its bankruptcy restructuring. 

The move, approved by the FCC in September 2024, has sparked controversy among some Republican lawmakers and conservative media, who raised concerns about potential foreign ownership and Soros’s influence over Audacy’s 230+ radio stations and podcast platforms. However, Audacy and Soros Fund Management have emphasized that the investment is financial, not ideological, and that programming will remain unchanged.