Broadcasting giant Audacy filed for bankruptcy on Sunday, just six months after cutting executives $3.2million in bonuses despite knowing finances were in bad shape.The broadcaster, which operates 227 radio stations and produces podcasts from the likes of Stephen A. Smith, Dana Carvey and David Spade, fell into trouble after radio advertising went into decline.The Philadelphia-based company filed chapter 11 in the U.S. Bankruptcy Court for the Southern District of as part of a deal with its creditors, who are taking over the business.
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