Air America Media has ceased live programming and will file soon under Chapter 7 of the Bankruptcy Code. This liberal talk radio network helped boost the careers of liberals Al Franken and Rachel Maddow, but they struggled financially. Americans didn't want to hear their loony liberal drivel. Goodbye and good riddance.
It is with the greatest regret, on behalf of our Board, that we must announce that Air America Media is ceasing its live programming operations as of this afternoon, and that the Company will file soon under Chapter 7 of the Bankruptcy Code to carry out an orderly winding-down of the business.
The very difficult economic environment has had a significant impact on Air America's business. This past year has seen a "perfect storm" in the media industry generally. National and local advertising revenues have fallen drastically, causing many media companies nationwide to fold or seek bankruptcy protection. From large to small, recent bankruptcies like Citadel Broadcasting and closures like that of the industry's long-time trade publication Radio and Records have signaled that these are very difficult and rapidly changing times.
Air America blames this on the economy, not the message. Meanwhile, FOX News ratings are skyrocketing.