Air America Radio files for Chapter 11 By SETH SUTEL, AP Business Writer
2 hours, 55 minutes ago

The network had denied rumors just a month ago that it would file for bankruptcy. On Friday, Air America spokeswoman Jaime Horn told The Associated Press that the filing became necessary only recently after negotiations with a creditor from the company's early days broke down.

The network will stay on the air while it resolves issues with its creditors, Horn said. In addition to Franken, the network also features shows from liberal talk show host Randi Rhodes and Jerry Springer.

Horn declined to name the creditor with which talks had reached a logjam. The company will operate in the interim with funding from its current investor group.

Air America also said Friday it had named Scott Elberg as its new CEO. Elberg, a former general manager of the radio station WLIB in New York, has been with the network since May of last year.

The filing 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."

http://news.yahoo.com/s/ap/20061013/ap_en_bu/air_america_radio_bankruptcy

Maybe they need to find another Boys and Girls Club to steal money from?

The Democratic People's Republic of Korea will be donating monies to this great radio company. Anything to help undermine the US and their illegal aggressions. That Al Franken makes the Glorious Leader giggle.

NaNaNaNa NaNaNaNa Heeeyyyy Goodye, [All Together]NaNaNaNa NaNaNaNa Heeeyyyy Goodbye.


Side Note: They lasted longer than I thought they would. Stealing from old ladies and children must have prolong the inevitable.