Today, Clear Channel Radio's iheartradio mobile app becomes available for smart phones with Android v1.5 or higher including Motorola, DROID, HTC, Droid Eris, HTC MyTouch and Samsung Moment. (Graphic: Clear Channel Radio)

The iheartradio app offers streaming broadcasts from almost 400 local radio stations plus several proprietary content channels from artists like Christina Aguilera and Eagles.

For more information, go to www.iheartradio.com or you can download the app from the Android Market.

Earlier this year, major radio players were forced to cut back employees to trim expenses during a downturn in advertising revenues. Now, the other shoe is dropping as several companies recently filed for Chapter 11 bankruptcy protection. Yet, based on some recent comments, there is little sympathy from the radio listening community. Read more.

Another radio company files for bankruptcy protection. This time it's NextMedia Group which owns 36 AM and FM radio stations.

According to Reuters.com: "NextMedia said the reorganization process will have no impact on day-to-day operations and will not result in any changes to senior management or any reduction to employee headcount."

NextMedia employs almost 500 people.

Related: Citadel Broadcasting Files Chapter 11 Bankruptcy

It's official: one of the big players in radio has filed for Chapter 11 bankruptcy protection. Citadel is the third-largest U.S. radio company and owns legacy stations like WABC/New York and WLS/Chicago.

The filing happened today (12/20/09) in the U.S. Bankruptcy Court for the Southern District of New York.

Citadel disclosed it had $1.4 billion in assets and a total debt of $2.46 billion. According to marketwatch.com: "Shares of Citadel, which closed Friday at 2 cents, traded as high as $11 just two years ago. Existing common stock would be rendered worthless by the bankruptcy plan."

Foxnews.com reports: "Citadel owns and operates 224 radio stations and produces news and talk radio programing for 4,000 station affiliates and 8,500 program affiliates."

Background:
* Third-Largest U.S. Radio Broadcaster May File Bankruptcy
* Is the Fat Lady Singing? Citadel's Radio Woes Not Even a 3 Penny Opera