In the relentless course of corporate history, the present can evoke the past. So it is that today we cast back to August, 2019, when RAIN reported that radio giant Entercom boldly and energetically acquired two dashing podcast startups, Cadence13 and Pineapple Street. About two years later, Entercom further modernized its image in a rebrand which turned it into Audacy (RAIN HERE). The company discontinued the Cadence13 brand in March of last year (RAIN HERE).
Today, as business fortunes would have it, news comes that Audacy is divesting its effort in the other of those two estimable brands, and will shutter Pineapple Street.
According to a report in Variety, about 30 employees will be jobless in the wake of this decision. Variety also provides a spokesperson’s boilerplate statement:
“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 spokesperson
In a larger picture, Audacy has been proceeding with bankruptcy adjustments this year. That legal process was completed in January (RAIN HERE) and a substantial across-the-board layoff action trimmed 300 Audacy employees in March (RAIN HERE).
In March of this year, Kelli Turner took the helm as CEO of Audacy (RAIN HERE).
