A harbinger for Democratic prospects in November?
Air America Radio, the liberal talk and news radio network that features the comedian Al Franken, filed for Chapter 11 bankruptcy protection on Friday, but will stay on the air while it reorganizes with funding from its investor group.
The network had denied rumors just a month ago that it would file for bankruptcy protection. On Friday, Air America spokeswoman Jaime Horn told the AP that the filing became necessary only recently after negotiations with a creditor from the privately held company’s early days broke down...
Air America has struggled financially since its inception. Documents filed with the bankruptcy court show that the company lost $9.1 million in 2004, $19.6 million in 2005 and $13.1 million so far in 2006.
Air America also disclosed in the court documents that two directors departed in the last two months, Douglas Kreeger and Tom Embrescia. Gary Krantz also departed as president in June, and executive vice president Tom Athans and chief operating officer Carl Ginsburg left in July.
Rats and the sinking ship, right? Guess American citizens don't want to hear from angry, self-loathing, blame-the-U.S.-first liberals...again, how does that bode for the party this station represents?
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