Friday, October 13, 2006

Win a Few ...

Having recently treated myself to XM radio (just months before changing jobs and going from driving 40 hours/month to 4), I was able to experience first hand Air America's incisive analysis and clear, coherent, exposition of liberal ideas and principles.

Whoever said nature abhors a vacuum has some serious 'splaining to do.

As a consequence of my first hand experience, this comes as precisely no surprise:

Air America Radio Files for Chapter 11
By SETH SUTEL, AP Business Writer
2 HOURS AGO

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.

...

In addition to Franken, the network also features shows from liberal talk show host Randi Rhodes [whose voice has "first wife" stamped all over it - HS] and syndicates shows from Jerry Springer and Portland, Ore.-based talk show host Thom Hartmann.

According to documents filed with U.S. Bankruptcy Court for the Southern District of New York, Air America owes Franken $360,750 and $9.8 million to RealNetworks Inc. CEO Robert Glaser, who owns 36.7 percent of the company and had previously served as its chairman.

...

Air America also said Friday it had named Scott Elberg as its new CEO. Elberg, who had worked at WKTU and also was a former general manager of the radio station WLIB in New York, has been with the network since May 2005.

The filing and executive shuffle marked the latest turbulence at the liberal talk radio network, which went on the air two years ago. This April, Danny Goldberg stepped down as CEO and was replaced by an interim chief executive from a management consulting firm.

"Nobody likes filing for bankruptcy," Elberg said in a statement. "However, this move will enable us to concentrate on informing and entertaining our audience during the coming months."

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 know it is unbecoming to gloat, so I shall simply note that the market has spoken.

And try to keep the laughter down to a roar that won't quite set off car alarms.

2 Comments:

Blogger Harry Eagar said...

'whose voice has first wife stamped on it'

Is that your comment Skipper or somebody else's. What does it mean?

October 14, 2006 8:52 PM  
Blogger Hey Skipper said...

Harry:

I should have used something more obvious than brackets to offset my editorial comments.

What I meant by it is a voice so harsh, shrill, hectoring, humorless and relentlessly accusatory, as to have rendered its owner a divorcee.

October 15, 2006 11:48 AM  

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