8 things to know: Audacy files for Chapter 11; COPT names new board chairman

Good morning and happy Monday!

As expected, the much-hyped snowstorm never hit Greater Baltimore. Instead, most of us in the area got a cold, drenching rain that made Saturday's Ravens game against the Steelers a sloppy mess. The Ravens, who sat Lamar Jackson and other key starters down, lost to the Steelers, 17-10. The win unfortunately did give the Steelers an opening into the playoffs. They captured a wild card spot on Sunday after a Titans win. Meanwhile, fans of the AFC North Champion Ravens are plotting their playoff plans.

There's little chance of any of the white stuff this week. WBAL-TV meteorologists are predicting high temperatures in the upper 40s and low 50s for much of the week, with lows that say above freezing. There's a 20% chance of precipitation on Monday, with a high of 45 degrees.

"Oppenheimer" wins big at "Golden Globe Awards"

How did you end your weekend? It was hard to choose between Sunday night football and the red carpet of the "Golden Globe Awards." I have to admit I love seeing celebrities in Gucci and Prada. In the end, I chose the Bills vs. Dolphins. I figured I could catch up on who won the golden statues in the morning. Not surprisingly, "Oppenheimer" and "Succession" (I love that show.) ran away with lots of awards. And the host, Jo Koy, apparently bombed. I'm only disappointed I missed the big event of the night, it-guy Timothée Chalamet and (Kardashian clan member) Kylie Jenner sharing what USA Today called "a passionate smooch."

Enough with that. Here's some real news to start your day.

Radio station owner files for bankruptcy protection

Audacy, the parent company of four Baltimore radio stations, filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court for the Southern District of Texas on Sunday, the company announced. The bankruptcy filing, reported by the Philadelphia Business Journal, comes after the Philadelphia-based audio content provider reached a restructuring deal with a “supermajority” of its debtholders that will reduce most of its $1.9 billion in debt, according to Audacy. The creditors, in turn, would take control of the company. Audacy (OTC: AUDA) said it does not expect any operational impact from the restructuring, and trade and other unsecured creditors will not be impaired. The move had been expected since a report of the prepackaged bankruptcy deal surfaced last week.

COPT names new board chair

COPT Defense Properties (NYSE: CDP) has named a new chairman of its board of trustees. Robert L. Denton Sr., a retired real estate and finance executive, was elected to serve, effective Jan. 1. Denton has served as an independent trustee of the Columbia-based company since 1999 and is currently the chairman of the nominating and corporate governance committee. Thomas F. Brady resigned as chairman of the board, effective Dec. 31 but remains on the board. Denton retired from the Shidler Group in 2013, where he had been a managing partner in New York since 1994 and was responsible for the group's new investment vehicles in the finance, real estate and insurance sectors. He was also a co-founder and managing director of Providence Capital Inc., an investment banking firm.

Erickson enters California with 1,400-unit project

Erickson Senior Living is moving ahead with its multibillion-dollar national expansion. Catonsville-based Erickson is planning its first full-service community in California — a 1,400-unit project near Sacramento. The company closed escrow in late December on a 55.6-acre site for the project in west Roseville, which will include independent living, assisted living and skilled nursing units. The move into California comes after the firm, which is backed by Baltimore billionaire and Redwood Capital owner Jim Davis, announced plans last year to pump $4 billion into a national expansion.

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Controversial Harford land pitched in Pimlico plan

A 700-acre site in Harford County that has been mired in controversy for years over plans to construct a massive warehouse development could get a new addition: a state-owned horse racing training center. The Maryland Thoroughbred Racetrack Operating Authority listed the Mitchell Farm on the Perryman peninsula as one of three potential sites for the new training center in a report released Friday. The listing, reported by the BBJ's Melody Simmons, was part of a report on the future of the redevelopment of Pimlico Race Course and Laurel Park, long in the works to help boost the state's racing industry. The move to include the farm property on the shortlist is the latest in an ongoing controversy over land rights between Chesapeake Real Estate Group and Perryman residents over the developer's proposal to build five warehouses with flat-surface parking for 1,811 trailers and 3,820 vehicles.

Delfi names new CEO

Greater Baltimore welcomes another female CEO. One of region's largest biotechnology companies has hired a new CEO as it pushes toward a wider commercial launch of its early cancer detection device. Delfi Diagnostics announced on Friday that Susan Tousi will take over as CEO, replacing founder Victor Velculescu. Velculescu will remain a member of the company’s board of directors. Tousi joins the Baltimore firm after serving as chief commercial officer of Illumina Inc., a multinational pharmaceutical company with over 10,000 employees.

Joanna Sullivan, Editor-in-Chief of the Baltimore Business Journal, can be reached at [email protected].