Air America Radio Files Chapter 11

Breitbart.com: Air America Radio Files Chapter 11

I am no fan of Air America Radio. I have listened to it occasionally out of sheer curiosity, but it was never to my liking. I would much rather listen to Laura Ingraham or G. Gordon Liddy or Sean Hannity. At the time AAR got its start, I can recall Sean Hannity's prediction that a radio station or network that primarily airs left-wing talk will fail. He gave these reasons (not exact quotes):
1. There are not enough people willing to listen to liberal talk radio.
2. The "mainstream media" already has the left wing well covered.
3. Most members of the liberal talent pool are not willing to work hard. Top guys like Limbaugh and Hannity are workaholics who spend several hours preparing for each show.

AAR's short life has been notable for its scandals, contract disputes, poor ratings, and sad tales. Progress Media, the initial parent company, started off with a dubious bang when they claimed to have amassed $30 million in venture capital. The real figure was closer to $6 million.

Ask the children of the now-defunct Gloria Wise Boys and Girls Club of New York what they think about AAR. In the summer of 2005, Progress Media borrowed (some say stole) $1.2 million from the Gloria Wise Boys and Girls Club to help fund AAR operations. In the wake of an investigation by the New york Attorney General, Piquant LLC, the new parent company of AAR agreed to repay the "loan." In the meantime, the Boys and Girls Club had to shut its doors because of the monetary loss. To this day the loan is still outstanding. Kids, don't hold your breath waiting for that check to arrive. Read more about this scandal here and here.

The radio network is not officially kaputt, but filing Chapter 11 is certainly a bad sign. AAR is apparently unable to service its debt or pay creditors, so filing for bankruptcy under Chapter 11 is an attempt to stay in business while getting relief from its debt. In my own Humble opinion, the network is doomed unless their wealthy supporters come up with a big infusion of cash. Something tells me that even their big supporters are growing weary of coming to the rescue with checkbooks.