The AP wrote:
NEW YORK -- Air America Radio, the liberal talk and news radio network that features the comedian Al Franken, has filed for Chapter 11 bankruptcy protection, a network official told The Associated Press.
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.
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, Horn said.
[...]
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.
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.
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, Horn said.
[...]
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.
I used to listen to it from time to time during its first Chicago incarnation before their host station locked the doors on them due to unpaid rent. They sucked then and I'm assuming that they still suck now. Why they can't find some talent with charisma who someone would want to listen to is beyond me.