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Radio News in October 2006

Air America Radio files for bankruptcy

Air America Radio logoU.S. liberal talk and news network Air America Radio has filed for Chapter 11 bankruptcy protection, but hopes to remain on the air. Air America has lost millions of dollars since it was launched in 2004. Aside from economic difficulties, Air America Radio has struggled to maintain a comprehensive network of affiliate stations. Air America programs are currently heard on 92 FM and AM stations, as well as on XM Satellite Radio, but Air America is not aired in three of the nation's top ten radio markets.
      The bankruptcy filing enables the company to reorganize its finances while freezing claims from creditors. Court papers show Air America had $4.3 million in assets and $20.3 million in liabilities, according to Reuters news agency. Based on its bankruptcy filing, the privately-owned company has lost nearly $42 million since its launch, including $13 million so far in 2006.
      The best known talk show host on Air America is Al Franken, comedian and best-selling author. Air America says it has about 4 million listeners.

(DXing.info, October 14, 2006)


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