WASHINGTON (Reuters) - The Federal Communications Commission said Monday it had voted to approve the transfer of radio station licenses to allow Audacy ( AUDAQ ), one of the largest radio and podcast companies in the United States, to emerge from bankruptcy.

The company filed for bankruptcy in January in Houston, Texas, with a pre-negotiated debt deal that wipes out its existing equity shares and turns over control of the company to a lender group. The company's bankruptcy restructuring was approved by a judge in February.