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Air America Is Closing, Bankrupt Again

From a deeply saddened Associated Press:

Air America Radio closing, filing for bankruptcy

By Ryan Nakashima, AP Business Writer

January 22, 2010

LOS ANGELES – Air America Radio, a radio network that was launched in 2004 as a liberal alternative to Rush Limbaugh and other conservative commentators, on Thursday shut down abruptly due to financial woes.

The network once boasted hosts such as Al Franken and Rachel Maddow, but struggled from the outset, including multiple management shake-ups, a bankruptcy in 2006 and sale for $4.25 million the following year.

Air America ceased airing new programs Thursday afternoon and said it will soon file to be liquidated under Chapter 7 bankruptcy. It began broadcasting reruns of programs and would end those as well Monday night.

"The very difficult economic environment has had a significant impact on Air America’s business. This past year has seen a `perfect storm’ in the media industry generally," the company said in a statement on its Web site.

The New York-based network said its "painstaking search for new investors" came close to succeeding even this week, "but ultimately fell short."

New York real estate magnate Stephen Green and his brother, politician Mark Green, bought the company out of bankruptcy in March 2007. Messages left for them were not immediately returned.

Air America said 10 consecutive quarters of declining ad revenue and the difficulty of making money on the Internet contributed to its troubles.

The network had some 100 radio outlets nationwide.

Franken, a Democrat, hosted his own show from 2004 to 2007 before leaving to campaign for a U.S. senate seat in Minnesota, which he won last year after a recount battle decided by the state Supreme Court.

Maddow went on to host her own TV show on MSNBC.

As the article notes, Air America has gone belly-up before. And, of course, they have been morally an intellectually bankrupt for some time now.

Needless to say, once we start bailing out newspapers and making sure that there is more ‘diversity’ on the radio, Air America will be at the head of the line for a taxpayer funded government handout.

But isn’t it funny?

Al Franken has proved that it’s easier to steal a seat in the US Senate than it is to sell advertising for propaganda that nobody wants to hear.

This article was posted by Steve on Friday, January 22nd, 2010. Comments are currently closed.

12 Responses to “Air America Is Closing, Bankrupt Again”

  1. proreason says:

    It’s a metaphore for liberalism. It fails every time.

  2. Travis says:

    The New York Times 5-years ago was rapturous with the coming advent of Err America. How did that venture work out Pinch?

  3. JohnnyT says:

    Why can’t Soros bail them out? And doesn’t Al Franken give them the heft of a personality vaulted into the big show?
    Guess not…

  4. eMuse5 says:

    I saw this article earlier today and wondered if it was on here…and I was right!

    Interesting that the article does not mention poor ratings being a factor for Air America going under. Clearly it must be a factor, otherwise advertisers would be falling over each other for the chance to put their ads on the shows. But what else can you expect from the Associated Press?

  5. conant says:

    Long long ago in a land far away I was a freshman at college and innocently asked why a certain course was required. An upper classman patiently explained that it was a course so bad nobody would take it but taught by a professor with tenure who couldn’t be fired. Substitute will not for cannot and it’s not so different I think from government support for liberal media.

  6. bobdog says:

    Ed Amedica is where Franken got the money to run for office in Minnesota, so there is still a leftover stain around the bowl.

  7. GL0120 says:

    Air America bankrupt? What happened, couldn’t they find another Boys / Girls club that wanted to float them a sweetheart loan?

  8. misanthropicus says:

    Thanks god – so it was only a nightmare!

  9. MinnesotaRush says:

    “Franken, a Democrat,” .. and thief, .. (shudda said).

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