Mega Media Group, which operates “Pulse 87,” has filed for Chapter 11 bankruptcy protection in federal court, according to Crain’s Business.

Pulse 87 is a dance radio format heard on the aural carrier of LPTV station WNYZ at 87.7 MHz in New York.

Mega Media President/CEO Alex Shvarts told Crain’s Business he hopes to reorganize the company and “get some breathing room” from creditors. According to the bankruptcy filing, the company owes more than $3.5 million against assets totaling 180,000.

RW last reported that Mega had stopped an on-air fundraiser after receiving a reprieve from some of its creditors.