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Air America: Bankrupt

***Updated - Air America Radio Denies Bankruptcy Filing***

According to Brian Maloney at The Radio Equalizer, Air America is bankrupt and up for sale:

Cash- starved Air America Radio is broke and up for sale, the Radio Equalizer has learned exclusively.


In addition, a liberal website is reporting that the so- called "progressive" radio network will announce a bankruptcy filing on Friday. As of this moment, the story has yet to be verified.

What our own sources are telling the Radio Equalizer is that two potential buyers have recently been looking to scoop up Air America's assets. But internal board squabbling has created a disunited front, with some members looking to hand the network back to eccentric co- founder Sheldon Drobny, while the rest shop for buyers.

Jon Sinton, a former Air America and Clear Channel Radio executive, is said to be leading the effort to seek a purchaser.

For those who have not been following Air America's very slow and painful decline, its declaring bankruptcy is not a surprise. Michelle Malkin has documented for some time now Air America's financial woes beginning with her June 2005 post that Air America was being investigated for funneling money meant for kids and seniors into its own bank accounts.

Lorie adds: Michelle Malkin is right when she says the following about Brian Maloney's exceptional work on this story:

You know, if Brian Maloney were a liberal blogger who had single-handedly blown the whistle on the financial shenanigans of a conservative radio conglomerate, he would be the toast of the media establishment. He'd be invited on all the prime-time talk shows. He'd be a "Person of the Week" on the nightly news. He'd get a profile in People magazine. But he won't get any of that.
He won't get old media recognition, but hopefully he will get some new readers as a result. If you aren't already reading The Radio Equalizer, be sure to check it out.


Update: Air America Radio says it's not declaring bankruptcy:

But just before 5 p.m. on Wednesday, Air America spokesperson Jamie Horn told Eric Deggans, media critic for the St. Petersburg (Fla.) Times, in an e-mail: "If Air America had filed for bankruptcy every time someone rumored it to be doing so, we would have ceased to exist long ago. It may be frustrating to some that this hasn't happened. No decision has been taken to make any filing of any kind. We are not sure of the source of these rumors."


Franken, however, confirmed that the network, which debuted in March 2004, is suffering from cash-flow problems. He told Radar Online about the bankruptcy claim: "I don't know if that's true or not. We do know that there have been cash-flow problems. I haven't been paid in a while. Like, there's no cash flowing to me."

Hat tip: Hot Air


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Listed below are links to weblogs that reference Air America: Bankrupt:

» The World According To Carl linked with Air America To Declare Bankruptcy, Perhaps Sold Off

» Mary Katharine Ham linked with Never Saw It Coming: Air America Files for Bankruptcy

» Blue Crab Boulevard linked with Thin Air

» Publius Rendezvous linked with Bankruptcy and Rumors of Bankruptcy

» The Moderate Voice linked with Is Air America About To Declare Bankruptcy?

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» The Right Nation linked with Around the World

Comments (45)

Poor Lee, lost his best sou... (Below threshold)
Old Coot:

Poor Lee, lost his best source for talking-points.

Air America has assets?... (Below threshold)
hermie:

Air America has assets?

Of course...Rhodes..Franken..Garawfulo...really big assets.

Aw shucks. A moment of sile... (Below threshold)
Clay:

Aw shucks. A moment of silence for Air America, please:

Pffffffffffffffffftt!!!!

i do remember the money fun... (Below threshold)
Dave:

i do remember the money funneling scam from kids that took place awhile back. I can see why liberals hate capitalism. the market dictated that nobody wants to hear their kooky views, and the libs think they have the right to be heard by millions even if it means forcing that upon people that don't want to hear them. look at what they are trying to do to Rush Limbaugh on Armed Forces Radio.

on a different topic, i found something funny about the 9/11 "conspiracy theories" complete with comics and all.

http://www.thebestpageintheuniverse.net/c.cgi?u=911_morons

It is entitled "There is no 9/11 conspiracy you morons".

There are also some links to some documented debunking of the popular theories out there, and i found them to be extremely interesting to find out why certain things happened from a scientific point of view as opposed to the liberal crackpot point of view.

What, no more charities the... (Below threshold)

What, no more charities they could steal money from? I'm sure if they looked hard enough they could have found a Make-A-Wish foundation somewhere.

In the immortal words of Ne... (Below threshold)
Peter F.:

In the immortal words of Nelson Muntz: "Ah-haa!"

So Franken and Girrafalo an... (Below threshold)
914:

So Franken and Girrafalo and crew could not hold an audience or generate a sane thought ehh..What a shameful joke.

Ah ha ha ha ha ha ha ha ha ha ha ..

To win the grand prize for ... (Below threshold)
Chuckg:

To win the grand prize for committing irony, the EIB Network should buy Air America.

And then, ritually, set the remaining (non-living) assets on fire, while holding Dan's Bake Sale III and roasting marshmallows. :P

Dave... I went through the ... (Below threshold)
D. Doré:

Dave... I went through the link. It's interesting but unfortunately the guy who posted that wasn't able to catch the fact that Glen Beck is a conservative who is an entertainer and talks about the $20 bill trick in a manner that's making fun of the conspiracy theorists... not joining them.

So that kind of steals away from the rest of the page.

I'm wondering how hard you ... (Below threshold)
bobcatgrad:

I'm wondering how hard you all will be laughing in November....

GOP, you had your chance. Here are the 'accomplishments' of the Bush administration and a GOP congress:

1. Lied about Saddam/bin Laden connection.
2. Turned Iraq into a terrorist breeding ground.
3. Lied about nation-building.
4. Opposed creation of 9-11 Commission and Homeland Security Department.
5. Lied to Americans about the real cost of war.
6. Fostered an environment of torture at Abu Ghraib and Guantanamo.
7. Lined Halliburton's pockets in Afghanistan and Iraq with fat no-bid contracts.
8. Under-manned and under-equipped our armed forces in Iraq, resulting in unnecessary death and injuries.
9. Cut funding for veteran health care
10. Lied about the insolvency of Social Security.
11. Gave huge cuts to the wealthiest taxpayers (only US president to ever cut taxes in wartime).
12. Lied about true cost of health care bill.
13. Bitterly divided the nation along religious, party and sexual preference lines.
14. Dreadful energy policies lead to record gas and oil prices.
15. Colossal failure of preparedness, rescue and relief during Hurricane Katrina.
16. Fostered a culture of corruption among GOP and top leadership (Tom Delay, etc).
17. Saw No Child Left Behind fail by creating mandates, but underfunding it.
18. Country went from a budget surplus to the highest trade deficit ever.
19. National debt is highest ever. Close to $10,000,000,000,000.00
20. Big oil giveaways while oil companies enjoy record profits.

I'd go on, but I'm sure most you have stopped reading this.

Personally, I'm tired of the whole 'Us vs. Them' mentality in this country. Guess what? Conservatives don't have all the answers. Neither do progressives. The difference between the two groups is that progressives are willing to admit it. Conservatives insist they're right, always have been right, and always will be right.

I'm tired of the name calling. It get's nothing done. As a progressive, I ask you: What's it going to take for conservatives to realize that this country will be better off if we work together?

Im sure the crew could all ... (Below threshold)
914:

Im sure the crew could all find comparable jobs over at Al jazera? Of course the women including Franken would all have to wear burka's and pledge allegiance to Islam. But what the hell, they are already halfway there anyways.

20. Big oil giveaways... (Below threshold)
Kristian:

20. Big oil giveaways while oil companies enjoy record profits.

Hmm, at the rate $ per barrel is falling, I doubt the record profits will stand up too much longer...

BobcatgradI believ... (Below threshold)
914:

Bobcatgrad

I believe this thread is about air america going bankrupt.. Not Your delusional democrat talking points.

I'm tired of the name ca... (Below threshold)
Doug:

I'm tired of the name calling. It get's nothing done. As a progressive, I ask you: What's it going to take for conservatives to realize that this country will be better off if we work together?

1. Who (or what) is a progressive? I'm guessing it's a liberal who won't call him- or herself a liberal.

2. "Working together." Yeah, right. Tell that to the Democratic leadership. Oops. That's an oxymoron. Tell me: will you "work together" with conservatives to denounce "Death of a President"? Didn't think so.

Bobcatgrad....You ... (Below threshold)
Lokki:

Bobcatgrad....

You have the same problem that Air America's broadcasters have (had?): You have plenty of complaints about what went wrong, but you have no plans to make things better.

What exactly will Hillary or Al Gore et.al. do differently...

And no BS generalities, please.

What?

Why should I vote for an unknown future?

Even if I'm not completely happy with the way thi ngs are going (and I'm not), the Democrats have offered nothing except 'different'.

Does that mean gay marriage? Withdrawal from Iraq?
Higher taxes?

Details please.

If AA files Chapter 7 what ... (Below threshold)
smitty:

If AA files Chapter 7 what assets can it liquidate? Who would want Franken, Rhodes and Gerawfulo? Well, Al-Jezeera is always looking to hire Westerners as sock puppets. I'm sure these three would be willing to whore themselves out if the price were right.

"bobcatgrad" goes through h... (Below threshold)

"bobcatgrad" goes through his 20-point list accusing Republicans of lying, stealing, bribery, price-fixing, hatemongering, incompetence, and indifference, THEN says he is "tired of the name calling."

Hey, good thing you didn't have 30 things on your list, eh? By the time you got through all that you'd have been "exhausted by the name calling."


That sort of stupidity just can't be taught. It has to be genetic, or the result of a catastrophic head injury, or both - which helps explain why the audience for Air America was so small.

bobcatgrad:"13. Bi... (Below threshold)
Bob Jones:

bobcatgrad:

"13. Bitterly divided the nation along religious, party and sexual preference lines."

Now that's funny. I don't care if you are queer or not, but that's funny.

Typical BS liberal talking points with no facts to back them up.

BobcatgradTo respo... (Below threshold)
Zelsdorf Ragshaft III:

Bobcatgrad

To respond to your off topic troll is a mistake on my part, but when an outright liar appears, I feel the need to point it out. Name the date and speech or in what paper did Bush ever say there was a connection between Saddam Hussein and Osama Bin Ladin? Bush never made that claim, ever. Only the liars on the anti-American left have claimed, without any sort of proof, that Bush made that claim. Even though the one that got away in the first attempt at bringing down the WTC escaped into the loving arms of Saddam. Bush said Saddam aided and abedded terrrorist. Abu Nidal was captured in Iraq. He was a terrorist, you sir, are a liar.

Air America: Bankrupt</b... (Below threshold)
914:

Air America: Bankrupt

Morally and every other way.


Hey Franken! maybe You could open a new panty line for Your lovers down at powderhorn park? It would keep You busy anyways.

Bankrupt in more ways than ... (Below threshold)

Bankrupt in more ways than money. Ideas. Values.

Old Coot muttered: "Poor... (Below threshold)
Lee:

Old Coot muttered: "Poor Lee, lost his best source for talking-points."

I've never listened to AirAmerica, O.C. You're wrong again.

Krisitan said: "Hmm, at the rate $ per barrel is falling, I doubt the record profits will stand up too much longer..."

The price of oil will rise right after the election, or don't you red-staters know when you're being played for a sucker?

One of the widely predicted outcomes of the conservofascist movement is that they will eventually bankrupt their constituency, forcing them to work for substandard wages at Wal-Mart and Burger King while paying through the nose for the basics like gasoline.

They like having you guys poor and hungry... you're more likely to maintain loyalty, and not have enough money to send your kids to college. "Heaven's we can't educate the populace - theyll figure out what we're up to... and then who will flip burgers?"

Of course the price of gasoline over the last several months contributed greatly to the layoffs at Ford Motor Company - but sorry you auto workers - politics is politics. Someone has to keep Haliburton busy and the oil companies rolling in dough!

(Besides - most of them auto workers are union people - who cares about them - they vote Democratic mostly -- and now you know why - shafted again by big-money-loving, lobbyist-licking Republican'ts.)

Nobody has asked the obviou... (Below threshold)
George:

Nobody has asked the obvious question:
Did the Gloria Wise Boys and Girls Club get their money back?

Without a gov't subsidy, th... (Below threshold)
Red Fog:

Without a gov't subsidy, the libs can't make a radio show cash flow. No sh*t?

Lee, you ignorant slut, you wouldn't understand FoMoCo if a F350 ran it over you. Union pension obligations to an aging workforce, Asian automotive trade imbalance a la Bubba's brilliant foreign policy and Honda/Toyota savy, and exploited truck frame production cost loop hole in the U.S. emission policy have caused the company's woes, not just this summer's price of oil. Oh, and UAW workers are not a lib voting block. You just blow it out your ass all day long.

30,000 American jobs - and ... (Below threshold)
Lee:

30,000 American jobs - and the republican *sshats make jokes.

SUV sales slumped badly after gas prices spiked, triggering this round of layoffs - moron. Go hop in your Toyota and drive down to your job at Burger King, Red Fog - the fry machine needs cleaning.

lolOnce again, Kim... (Below threshold)
jp2:

lol

Once again, Kim proves she's the best writer on this darn site.

Kim - you're simply the best.

Posted by: Red Fog at Septe... (Below threshold)
Drock:

Posted by: Red Fog at September 13, 2006 09:23 PM

I don't see you giving up your union benefits pussy!
You should not have the right to any of the rights others earned with their work and some with their lives fighting corporate fascists like we have now. Give it all up. You don't deserve it. You need to shut up and serve.
P.S. Quick making America look so stupid!

Free speech is guaranteed i... (Below threshold)

Free speech is guaranteed in the Constitution.

An audience isn't. Neither are sponsors. No audience = no sponsors = no money = no 'Air America'.

I tried listening to them once, when they were on sat radio... and couldn't stomach it. The sheer, vile hatred of everything to the right of their staked out position wasn't anything I'd care to listen to for long. It wasn't funny, it wasn't entertaining, it was like being trapped in a car with a screaming bore who wouldn't shut up about his passion.

So - it's gone? That's a shame - but it looks like that particular brand of radio just isn't commercially viable. And what works in North Korea or Cuba (Mass mandatory gatherings with hours-long speeches) doesn't cut it when the listener can change the channel.

bobcatgrad,I'm ... (Below threshold)
Nahanni:

bobcatgrad,

I'm wondering how hard you all will be laughing in November....

In case you have not gotten out of your parents basement in the "reality-based community" recently you missed the primaries on Tuesday. The results do not bode well for the Democrats. I did smile while watching the results and the down in the mouth reporter reading them.

As to you "20 points"... Memo to you, bobcatgrad:

You are not Dorothy in the Wizard of Oz. Constantly repeating the same thing over and over does not make it true. If you choose to ignore facts and mindlessly parrot the fantasies of Mikey Moore and your BDS deranged buddies that is your choice. It only serves to make you look like a fool. So save the "20 points" for your mouth breathing reality challenged fellow basement dwellers. I no longer have the time nor inclination to waste on the likes of you concerning those subjects.

Personally, I'm tired of the whole 'Us vs. Them' mentality in this country

What is the matter? You and your ilk finally discovering that your six freaking years of insults, arrogance, ignorance, name calling and temper tantrums aren't working and now you want to be treated as adults? Sorry, but I am not fooled, you and your ilk will have to prove to me you can behave like adults before I treat you as one.

The difference between the two groups is that progressives are willing to admit it.

Hahahahahahahahaha! God are you funny! Prove it to me. Every one of your "20 talking points" has been proven to be wrong, now let us see you admit it.

*crickets chirping*

I thought so.

It is ok, I am not going to waste my time waiting for you to admit you are wrong.

I'm tired of the name calling. It get's nothing done.

Then why do you persist in doing so? The tone of your entire post is childish, insulting and chock full of arrogant condescension and sanctimony. You might as well put (you dumbass rethuginazis) after each sentance from the tone of your post.

What's it going to take for conservatives to realize that this country will be better off if we work together?

When you finally realise that it is no longer 1968. When you move out of your parents basement in the "reality-based community" and into the real world. When you finally grow up and realise that the world is not some happy bunnyland and the Islamofascists do not want to buy us a Coke and sing Kumbayah.

When you do all that and prove that you are a rational adult and not some petulant child then you come back and talk to me.

The reason why Air America ... (Below threshold)
Nahanni:

The reason why Air America failed is a simple one.

LLL's and "progressives do not talk with you. They talk at you. Their fragile psyches can not handle anyone who disputes them so they will do anything and everything to squelch all who do not follow their party line

It was doomed from the outs... (Below threshold)
astigafa:

It was doomed from the outset. Smart people listen to talk radio? Might as well have expected them to watch NASCAR.

@ LeeGo hop in ... (Below threshold)
Red Fog:

@ Lee

Go hop in your Toyota and drive down to your job at Burger King, Red Fog - the fry machine needs cleaning.

You seem to know about a very specific menial task at Burger King, Lee. Al Franken needs your coaching because his current job isn't paying. Or maybe you can tell him how to work the welfare system between breathless antidotes about failed Marxist maxims. Better yet, drive him to Canada in your converted garbage truck camper (I saw you in one at the county fair) and stay forever ....you're a poster boy for peons.

Liberal radio was, is, and will stay dead because you libs need flashing visual aids!

Al Franken :Bereft... (Below threshold)
914:

Al Franken :Bereft

Its truly amazing the utter... (Below threshold)
Carlos:

Its truly amazing the utter ignorance of people in the United States. When you have a single party controlling the government its called a Monarch. The United States is under a Republican Monarchy and morons like yourself just don't care.

You won't even consider working with the democrats of independents. You are becomming what you use to hate in the early 1990s. Wake up Republicans you have become your own enemy....

Carlos, I 100% agree.... (Below threshold)
Kon:

Carlos, I 100% agree.

Replublicans are so wrapped up in their own little world, they just don't care about anyone else.

A person could be getting raped, and a Republican would stick up his nose and turn the other way... YOUR COWARDS!

I'd go on,...... (Below threshold)
James Cloninger:

I'd go on,
...but you reached the limit of your cut and paste skills...
...but I'm sure most you have stopped reading this.

Hell, I haven't even started reading it.

Again, save yourself time and just post:

BUSH LIED PEOPLE DIED NO BLOOD FOR OIL EXCEPT FOR THE FRENCH HALIBURTON INSIDE JOB ALIENS GAVE ME AN ANAL PROBE THE TRUTHER IS OUT THERE

(and yes, in ALL CAPS, because SHOUTING ALWAYS MAKES YOU SOUND RATIONAL AND INTELLIGENT!)

Air America is failing, peo... (Below threshold)
George:

Air America is failing, people aren't listening to them. The sad thing that is obvious to me is that Liberals aren't even listening. I would like to say " thats too bad", but the way those Radio hosts on Air America carry on about the things they do, shows me that they can't sell it. And if one can't sell a product to people that aren't buying, its time to get out.

A person could be gettin... (Below threshold)
MikeSC:

A person could be getting raped, and a Republican would stick up his nose and turn the other way... YOUR COWARDS!

Wasn't our previous President accused of rape?

What party was he from, exactly?
-=Mike

Kon:A true liberal... (Below threshold)

Kon:

A true liberal would see someone being raped and wonder what terrible events had befallen the rapist that he would do such a horrific thing. They would think about calling the police, but then worry that the police would overreact and violate the rapist's civil rights -- maybe even use excessive force. In the end, they'd go home, call their congressman, and demand increased funding for helping rape victims recover from their ordeal.

On the other hand, a true conservative would... how does the joke go... "BLAM BLAM BLAM BLAM BLAM BLAM (click) (reload) BLAM BLAM BLAM BLAM BLAM BLAM", call the authorities to dispose of the garbage, then urge the victim to sign up for lessons with the NRA so she could properly defend herself, and not depend on the government or others to protect her.

J.

Layoffs at Ford continue to... (Below threshold)
Lee:

Layoffs at Ford continue to accelerate Foggy (emphasis added for thinking impaired liars);

"Ford has acknowledged a need for drastic changes in its product lineup. Like other U.S. automakers, its bottom line is heavily dependent on high-margin trucks and large SUVs, but recently consumer preferences have shifted toward more fuel-efficient vehicles. Ford says the speed of that shift caught it by surprise."

They weren't counting on the Republican'ts screwing America this badly -- they were wrong.

Lee,This thread is... (Below threshold)
Red Fog:

Lee,

This thread is about Air America's failure. Ford is not 'laying off' workers. They're following the GM buyout plan. There's a big difference. UAW has negotiated itself into oblivion. And who are you quoting? Yourself? The cause and affect of Ford's financial losses is just a little more complex than the blame-Bush high fuel costs that are not dropping like a stone but I know you can't understand anything more than a day old. Now, get lost.

Looks like Air America join... (Below threshold)
d45:

Looks like Air America joins some pretty good company.

Delphi 22 Billion
Northwest 22 Billion
Delta 28 Billion
Refco 16.8 Billion
MCI, GE, etc. Whose's next? GM?

If the message Air America brings to the table is turned off then we'll get what we deserve. Rush, Hannity, O'Rielly and Mike Fine will continue to enlighten us all along with FOX hard hitting news.

In the meantime don't try to carry your tooth paste on board one of those bankrupt carriers! You may get arrested.

db

Someone is full of shit, is... (Below threshold)
slimpickens:

Someone is full of shit, is it you?

I haven't listened to AAR s... (Below threshold)
Michael:

I haven't listened to AAR since they fired Mike Malloy. At this point, I really don't give a damn about AAR. Let them file for Bankruptcy. It will serve them right for getting rid of Mike Malloy.

LMAO! What now Randi Rhode... (Below threshold)
db:

LMAO! What now Randi Rhodes? You guys have made asses our of yourselves for long enough. And I said "asses" not "assets".




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