LOL, "Air America Radio" Files Chapter 11

[Drakonix]

Air America Radio Files for Chapter 11

NEW YORK (AP)


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.

Horn declined to name the creditor with which talks had reached a logjam. The company will operate in the interim with funding from its current investor group.

Air America also said Friday it had named Scott Elberg as its new CEO. Elberg, a former general manager of the radio station WLIB in New York, has been with the network since May of last year.

The filing marked the latest turbulence at the liberal talk radio network, which went on the air two years ago. This April, Danny Goldberg stepped down as CEO and was replaced by an interim chief executive from a management consulting firm.

"Nobody likes filing for bankruptcy," Elberg said in a statement. "However, this move will enable us to concentrate on informing and entertaining our audience during the coming months."

http://www.cnn.com/2006/SHOWBIZ/10/1....ap/index.html

I guess they can't make it work unless it's funded by virtually limitless tax money.

[JackSpratts]

like the war in iraq works with its limitless tax money?

- js.

[albed]

Liberals prefer to put other peoples money where their mouth is. Who's gonna buy their bullshit in a free market economy? Not even them.

[theknife]

without knowing much about the radio biz, i never thought the AA business model made a lot of sense. you can and do have a lot of succcessful progressive/centrist talk radio formats, but structuring a network around them always seemed to be a bit of a stretch.

then again, since the wingnut talk segment has been losing market share, maybe there is a future for them. by dutifully reciting the RNC talking points that come out of their fax machines every day for the last five years, the credibility of Hannity, Limbaugh et al is about on a par with Bush's and, well, the rest of GOP - pretty close to zero. but losing disaffected wingnuts on the right does not translate into new listeners for AA.

[albed]

Air America host Jon Elliott announced on air that fellow host Randi Rhodes was mugged. Elliott, who said Rhodes lost several teeth in the attack, waxed about a possible conspiracy. "Is this an attempt by the right-wing hate machine to silence one of our own?" he asked on the air, "Are we threatening them?"

But Randi Rhodes had only tripped and cut her lip while walking her dog.

OMG could Air America be a bunch of lying scumbags?

Then why don't more liberals tune in and listen?

http://www.nydailynews.com/news/2007...asnt_mugg.html






BTW Air America was bought by Green Family Media on March 6, 2007 for US$4.25 million.

http://en.wikipedia.org/wiki/Air_America_Radio