Air America to go Silent?

So the only thing lower than George Bush's approval numbers are Air America's ratings, or so I hear...multiple reports coming out that the "progressive" network has progressed right into a wall - liberal blog Think Progress:

Air America Radio will announce a major restructuring on Friday, which is expected to include a bankruptcy filing, three independent sources have told ThinkProgress.
Air America could remain on the air under the deal, but significant personnel changes are already in the works. Sources say five Air America employees were laid off yesterday...

And how's this for typical head-in-the sand liberalism:

The right wing is sure to seize on Air America’s financial woes as a sign that progressive talk radio is unpopular . In fact, Air America succeeded at creating something that didn’t exist: the progressive talk radio format. That format is now established and strong and will continue with or without Air America....

Radio and TV in the United States is the ultimate example of popular and capitalistic democracy. When people like a particular program, they obviously listen to/watch it, ratings increase, and advertiser revenue follows. If am item of programming is uninteresting, or offensive, people do not tune in, ratings stay low and advertisers search for other venues to sell their wares. Once programming is running at a monetary loss due to lack of interest and becomes unprofitable, it is usually cancelled, and different programming takes its place.

Get it? Nobody cares, nobody is listening, nobody wants to advertise or associate their product with Air America, and hence the project is an intellectual and financial failure (read Michelle Malkin's posts detailing the crumbling of Air America here). American Capitalism being what it is, I find it unlikely that someone will try to duplicate a failed project of this type. And this is why the left is so big on public broadcasting -there is no marketplace for their decrepit ideas, so they rely on taxpayer funding to pimp their unpopular ideology...

Alas, The Radio Equalizer reports a not a sequal, but more of a nasty spin-off, may be in the works:

If Air America isn't able to continue its programming, it opens the door for new feminist talk radio network GreenStone Media to take over some, or perhaps many, of its stations. As we've reported exclusively, GreenStone, founded by Jane Fonda and Gloria Steinem, has gradually begun to take over Air America's physical operations in New York City.

Great! Another leftist feminist outlet where successful conservative women like Condaleeza Rice can be ignored (or mocked), and baby-booming bra burners can Bush-bash and pine away for the day when women were slaves in Afghanistan and Saddam Hussein and his hell-spawns ran rape camps in Iraq....

Buh-bye, Randi and Al! Based on your numbers, you won't be missed by many...