AccuRadio says it owes $10 million to SoundExchange, which brought a lawsuit last year claiming the ad-supported streaming service has unpaid royalties dating back to 2018.
The company has reached a Chapter 11 bankruptcy deal that will reduce its debt from $1.9 billion to $350 million.
Facing a decline in revenue and owing $2 billion in debt, the radio company looks to restructure its balance sheet.
