Audacy, the Philadelphia based radio and podcast company which owns several Connecticut stations, has filed for bankruptcy protection in Texas.
In Hartford, the company owns WTIC-AM/FM, WRCH, and Hot 93.7.
There was a time when filing for bankruptcy brought with it a life time of shame and the patina of failure, now it is considered a smart business move. Audacy’s filing will allow it to reduce its debt from $1.9 billion to $350 million.
