Radio will continue to circle the drain until someone opens up the business again. Congress needs to throw ownership rules into Mr. Peabody's Wayback machine and set the dial for 1974. It then needs to inform the FCC that it will no longer tolerate it turning a blind eye to a host of "small" matters of enforcement such as city of license. This, of course, would require Congress to grow a spine and tell the NAB to hit the bricks.
We need new money as well as new ideas to breathe life back into the beast. None of that is coming from Clear Channel, Citadel, CBS, et al.