October 13, 2006
Air America: Bankrupt
The experiment of a profit-making liberal talk radio network has it the wall. Air America filed for Chapter 11 bankruptcy:
Air America Radio, a liberal talk and news radio network that features the comedian Al Franken, has filed for Chapter 11 bankruptcy protection, a network official told The AP.
The Smoking Gun has the bankruptcy filing. Al Franken is owed over $350,000 (even half of that would be nice to start bankrolling a future U.S. Senate campaign), and Chuck D of Public Enemy fame is owed over $10,000.
Brian Maloney reports the network was supposed to be bought by a Democratic moneyman, but those plans fell apart. Maloney wonder how Air America will continue to operate "because there simply isn't enough cash coming in to cover basic expenses, beyond payroll and perhaps a few utility bills."
Lefty weblogger Shakespeare's Sister writes,
Predictably, conservative bloggers are touting this as evidence that thereís simply no market for progressive ideas. I donít actually think this is true. Iím ostensibly the perfect target audience for Air America, and I canít frigging stand it.
"Air America Radio files for Chapter 11"
"Air America Files Chapter 11"
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