Following court approval of its reorganization plan, Kast Media has emerged from the bankruptcy process with a new chief executive at the helm. The company says founder Colin Thomson will transition to the role of Chief Creative Officer, as podcast and radio veteran Matty Staudt comes onboard as its new CEO.
“This is a fresh start for Kast,” Staudt says in the announcement. “I’m excited to help shape what comes next.”
Staudt most recently was President of the podcast production company Jam Street Media, as well as an Executive Producer for Audancy, where he spearheaded operations and content creation for a San Francisco market morning radio show.
It is a familiar combination for Staudt, who worked in radio at stations such as WJFK Washington, WNEW New York, and hot AC “Alice @ 97.3” KLLC and CHR “Live 105” KITS San Francisco before making his move into podcasting. He joined the startup team at Stitcher in 2007 as the company’s first Director of Content. He later returned to radio, working on the digital team at iHeartMedia before eventually becoming VP of Podcast Programming for iHeartRadio in 2018. After leaving iHeart, Staudt launched Jam Street Media in mid-2019 as a full-service production agency for brands, celebrities, and documentarians.
“While there’s significant work ahead as we rebuild from bankruptcy, I’m energized by the opportunity to help shape the next chapter,” Staudt writes in a LinkedIn post. “I look forward to developing original content, signing new shows, and reestablishing Kast as a dynamic force in the podcasting world.”
With Staudt’s appointment, Thomson will focus on original programming, as well as intellectual property development and deployment in his new role as Chief Creative Officer.
“Matty brings a wealth of experience and expertise,” said Thomson. “I’m tremendously excited to work with him in revitalizing and honing Kast’s operations moving forward.”
A federal bankruptcy judge last week approved Kast Media’s reorganization plan, clearing the way for it to exit the Chapter 11 process more than a year after the company sought court protection from its creditors. The company says the plan was earlier confirmed with overwhelming support, with roughly 85% approval by both claim value and number of creditors voting in favor. It points out that even during the year-long legal process, Kast’s streamlined operations have continued to perform throughout the bankruptcy, and the company maintained operational profitability net of restructuring costs during the period.
“This marks a major milestone for Kast,” Thomson says in the announcement. “We walked through a challenging time. The Chapter 11 process was heavily scrutinized. We welcomed the scrutiny. We’ve learned a lot, and we’re better for it — we’re now entering the next phase with clarity, momentum, and new content already underway.”
Cabinet Media filed for Chapter 11 bankruptcy protection in March 2024, telling a California court that it owed nearly $6.4 million to dozens of creditors. The list includes millions owed to podcast creators. Under the reorganization plan, creditors will have the option of recouping some of what they are owed over a five-year period in cash. Their other option for creditors is to convert that debt into equity in the newly reorganized Kast Media. Creditors will have 30 days to decide.
