Hey Matt, are you still listening to Air America?

[War Lord]

http://www.wnd.com/news/article.asp?ARTICLE_ID=52435

Air America in bankruptcy court. Liberal network files Chapter 11
month after denying news reports

Posted: October 13, 2006
2:35 p.m. Eastern

The left-leaning talk network Air America Radio has filed for Chapter 11 bankruptcy protection.

The network had denied a report one month ago that it would file for bankruptcy protection. But Air America spokeswoman Jaime Horn told the Associated Press today the filing is now necessary because negotiations with a creditor broke down.

Horn said that in the meantime, the company will operate with funding from its current investor group.

The AP, citing documents filed with U.S. Bankruptcy Court for the Southern District of New York, said Air America owes its lead talk host Al Franken $360,750. The company owes $9.8 million to RealNetworks Inc., whose CEO, Robert Glaser, owns 36.7 percent of the company and previously served as its chairman. Glaser resigned as a director today.

Air America also announced today it has named a new CEO, Scott Elberg, a former general manager of WLIB radio in New York who has been with the network since May 2005.

"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."

Talk-radio blogger Brian Maloney, who has closely followed the network, says Air America came close to agreeing on a buyout plan by Democratic Party fundraiser and Huffington Post blogger Sheldon Drobny, but the "talks mysteriously ceased."

Maloney said investors "seemed to be counting on the deal as a way to escape with a few bucks and finally put this loser behind them for good."

A "binding letter of intent" with the Drobny Acquisition Group LLC has expired, Maloney said, "leaving Air America with few options, other than to find another buyer, file for bankruptcy protection or to simply shut down."

As WorldNetDaily reported last fall, Air America had no measurable audience in the nation's capital according to the Arbitron rating service.

After WWRC-AM in Washington, D.C., recorded a mere fraction of a rating point in the spring with syndicated shows from the likes of lefty talkers Franken, Janeane Garofalo and Stephanie Miller, Arbitron couldn't detect a measurable listenership for the station in the summer quarter, the Washington Post said.

The news came on the heels of the network asking its listeners to send in money, a financial scandal involving money siphoned from a Boys & Girls Club in New York City, a California radio station pleading for advertisers to sponsor the programming claiming it could not get a single ad, and a host apologizing for what some thought were threats against President Bush's life.

Because you won't be for much longer.

 

[Fred_Fury]

Lol

 

[bored]

And they say Al Franken is smug .

 

[KingOfDreams]

I hope Air America survives. But unfortunately, it looks like the conservatives all but have a monopoly on talk radio.

 

[War Lord]

And they say Al Franken is smug .

Take comfort however you need to do so.

 

[bored]

Take comfort however you need to do so.

And you as well. I'm glad that seeing a radio network having financial troubles gives you such joy. Some people just can't understand the pleasures of simple things anymore.

 

[Fred_Fury]

who the hell thinks Al Franken is funny? That guy is a moron. i guess he's stupid-funny, like jerry lewis

 

[KingOfDreams]

who the hell thinks Al Franken is funny? That guy is a moron.

You think this just because you're conservative.

 

[Outsiderzedge]

ahahahahahahaahha

 

[War Lord]

And you as well. I'm glad that seeing a radio network having financial troubles gives you such joy. Some people just can't understand the pleasures of simple things anymore.

I don't take joy at watching a radio network having financial troubles.

I take joy at watching a Liberal radio network having financial troubles.

It wouldn't be having financial trouble if people wanted to hear what Liberals have to say.

 

[KingOfDreams]

I don't think that's it. The problem with Air America is that it had to have a station all to itself, therefore a lot of communities didn't pick it up. If it was just part of a regular station like Rush Limbaugh than maybe it would have done better.

 

[Wilhelm-Scream]

Fanciful, simple escapist movies like Lethal Weapon and Harry Potter always make way more profit than documentaries and educational films.

 

[Truthteller]

Air America, smair america. I'm over it.

Lets head 'em up and mooooooove 'em out!

Thats right.

 

[War Lord]

Fanciful, simple escapist movies like Lethal Weapon and Harry Potter always make way more profit than documentaries and educational films.

Not to mention that the simple reason why Liberals love big government is because they don't know how to turn a profit.

 

[Wilhelm-Scream]

I'm, pretty sure Warren Buffet and Bill Gates are Democrats.

 

[War Lord]

I'm, pretty sure Warren Buffet and Bill Gates are Democrats.

Every statistical trend has it's outlayers.

 

[jaguarr]

I don't think that's it. The problem with Air America is that it had to have a station all to itself, therefore a lot of communities didn't pick it up. If it was just part of a regular station like Rush Limbaugh than maybe it would have done better.

That's kind of been my feeling about it was that they weren't just putting shows on established networks, but trying to establish their own station altogether which is pretty difficult in this market, no matter the political agenda.

jag

 

[Outsiderzedge]

I'm, pretty sure Warren Buffet and Bill Gates are Democrats.

PR stunts, no less.

 

[jaguarr]

I'm, pretty sure Warren Buffet and Bill Gates are Democrats.

So are Steve Jobs, Steve Wozniak and Larry Elleson. I believe Richard Branson is, too.

jag

 

[War Lord]

So are Steve Jobs, Steve Wozniak and Larry Elleson. I believe Richard Branson is, too.

jag

It wouldn't be surprising because the ultra-wealthy tend to be Democrats for the very simple reason that the Democrats like to tax income, which keeps the rest of us from joining the club.

 

[jaguarr]

It wouldn't be surprising because the ultra-wealthy tend to be Democrats for the very simple reason that the Democrats like to tax income, which keeps the rest of us from joining the club.

jag

 

[The Overlord]

Not to mention that the simple reason why Liberals love big government is because they don't know how to turn a profit.

Hmm, really conservatives like small governemnt now? Seems like your behind the times, today's conservatives support a President who has dramatically increased the size, scope and power of the government and has engaged in one of the greatest increase in government spending in US history. Get with the times "big governemnt" is now in vogue with conversatives.

 

[The Overlord]

It wouldn't be surprising because the ultra-wealthy tend to be Democrats for the very simple reason that the Democrats like to tax income, which keeps the rest of us from joining the club.

Most rich people vote GOP.

 

[KingOfDreams]

Most rich people vote GOP.

Yeah. Mainly, the rich liberals are those in the entertainment business.

It wouldn't be surprising because the ultra-wealthy tend to be Democrats for the very simple reason that the Democrats like to tax income, which keeps the rest of us from joining the club.

...

 

[War Lord]

Most rich people vote GOP.

The ultra-wealthy, those that make people worth $100 million or less look like pittances, tend to be overwhelmingly Democratic. At least from what I've seen.