Air America goes belly up, ceases live broadcasting

by editor on January 21, 2010

This may come as a huge surprise to most Americans, but Air America is on the air. No. Correction. Make that was still on the air.

The little-listened to lefty radio network just announced that it will cease live broadcasting and file for bankruptcy.

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.

Those companies that remain are facing audience fragmentation as a result of new media technologies, are often saddled with crushing debt, and have generally found it difficult to obtain operating or investment capital from traditional sources of funding. In this climate, our painstaking search for new investors has come close several times right up into this week, but ultimately fell short of success.

With radio industry ad revenues down for 10 consecutive quarters, and reportedly off 21% in 2009, signs of improvement have consisted of hoping things will be less bad. And though Internet/new media revenues are projected to grow, our expanding online efforts face the same monetization and profitability challenges in the short term confronting the Web operations of most media companies

When Air America Radio launched in April, 2004 with already-known personalities like Al Franken and then-unknown future stars like Rachel Maddow, it was the only full-time progressive voice in the mainstream broadcast media world. At a critical time in our nation’s history — when dissent on issues such as the Iraq war were often denounced as “un-American” — Air America and its talented team helped millions of Americans remember the importance of compelling discussion about the most pivotal events and decisions of our generation.

Through some 100 radio outlets nationwide, Air America helped build a new sense of purpose and determination among American progressives. With this revival, the progressive movement made major gains in the 2006 mid-term elections and, more recently, in the election of President Barack Obama and a strongly Democratic Congress.

Laws have changed for the better thanks to this revival…..but all the same our company cannot escape the laws of economics. So we intend a rapid, orderly closure over the next few days. All current employees will be paid through today, January 21. A severance package will be offered tomorrow to full-time current employees with more than six months of tenure.

We will strive to assist affiliates and partners in achieving a smooth transition. Starting at 6 pm EST today, we will provide our affiliates, listeners and users a selection of encore programming until 9 pm EST on Monday, January 25, at which time Air America programming will end.

We are proud that Air America’s mission lives on through the words and actions of so many former radio hosts who are active today in progressive causes and media nationwide. In the years ahead, as we look back, we should all be proud of our passionate determination to assure that our nation’s progressive voice would be heard loud and clear. Through the hard work and dedication of current staff, and those who preceded you, a lasting legacy was forged which will now continue through other voices and venues.

Thank you.

No, thank you, Air America. Thank you for the years of laughs you gave rational Americans.

Thank you for providing radio jobs for untalented leftist hacks who couldn’t possibly have found them anywhere else.

Thank you for helping left wing millionaires piss their money away when it could have gone to far more effective uses.

Thank you. Thank you a million times over.

Source: Air America via BigJournalism.com

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KimmyQueen
Member

I think it was 3-5 years ago that Bill O’Reilly said it will go bankrupt. I took it for granted that it would within the year and that was the end of it. I was surprised that it was still on the air until recently. However I am not surprised that it would have eventually ended just how long it was on the air. So you are right about that.

Obviously the pain in the big wigs wallets overran their vain and arrogant desire to hear themselves speak or spew nonsense.

DJ
Guest
DJ

“…but all the same our company cannot escape the laws of economics.”

This is an amazing epiphany! Air American AND the Democrats can’t escape the laws of economics. They just don’t get it, but they might by the time we’re done with them on November 2, 2010!

“So we intend a rapid, orderly closure over the next few days.” Read ‘implosion’.

danybhoy
Member
danybhoy

DJ, if you don’t have Sirius or XM Satellite radio, then you have not heard of Andrew Wilkow. He’s a conservative talk show host, & a damn good one, & his slogen is “CAPITALISM IS BOSS”. He says this because he knows, like you & me, that nobody can escape the laws of econinomics.

DJ
Guest
DJ

Thanks for the tip…I don’t have either station, but Hubby’s truck gets XM, so I’ll have to “borrow” it more often to tune in. ;D

Capitalism IS boss and it’s what made this country so great.

danybhoy
Member
danybhoy

The Wilkow Majority comes on across from Rush, that’s the only problem. I have an XM unit that I can record content, then I listen at work.

This is my new name
Guest
This is my new name

MUAHAHAHAHAHAAAAAA~

suck it.

greatj
Member
greatj

GREAT NEWS
Its about time this LEFTIST TRASH is off the air.But there is still MSNBC.

danybhoy
Member
danybhoy

There are still a few goofball lefties on the radio, Randi Rhodes, Mike Malloy, & Special Ed Schultz are not on Air America & are out of thw woods that way, but some of the stations their on might be. Liberal radio is a money loser, & this is further proof.

matthew s harrison
Guest
matthew s harrison

They were still on the air?

rs
Member

Yippee!