Audacy, the nation’s second largest radio chain and a major player on the Chicago airwaves, filed for Chapter 11 bankruptcy in a Texas bankruptcy court Sunday, seeking to reduce nearly $2 billion in debt. The Philadelphia-based radio giant, which owns 225 stations, including Chicago powerhouses such as WBBM-AM 780, WXRT-FM 93.1 and WSCR-AM 670, blamed a “perfect storm” of pandemic headwinds, .
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Audacy the radio platform that owns L.A. stations KROQ, KRTH, KNX and the Wave, among others filed for Chapter 11 bankruptcy, the company announced Sunday.