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 network had denied rumors just a month ago that it would file for bankruptcy. On Friday, Air America spokeswoman Jaime Horn told The Associated Press that the filing became necessary only recently after negotiations with a creditor from the company's early days broke down.

The network will stay on the air while it resolves issues with its creditors, Horn said. In addition to Franken, the network also features shows from liberal talk show host Randi Rhodes and Jerry Springer.

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 there’s simply no market for progressive ideas. I don’t actually think this is true. I’m ostensibly the perfect target audience for Air America, and I can’t frigging stand it.

...

And many of the criticisms of Air America being poorly run are valid. Even when I was trying to give Air America a good chance, they were completely screwing up in Chicago. On the air, not on the air, a different station, filled with static, off the air, what the f***? In one of the bluest cities in the country, and hence presumably one of the best audiences, they should have sorted that shit out long ago.

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