To use a euphemism beloved by El Rushbo, Air America has assumed room temperature.
Brian Stelter of New York Times's Media Decoder with the story:
Air America, the progressive talk radio network, said Thursday that it would cease broadcasting immediately, bowing to what it called a “very difficult economic environment.”
“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 chair of Air America Media, Charlie Kireker, said in a memorandum.
His statement was published on AirAmerica.com.
The news did not come as a total surprise to staffers. The company, which has more than 100 affiliates, has suffered from financial troubles since it was founded in 2004. The company first filed for bankruptcy protection in 2006, but managed to stay on the air at that time.
Starting at 6 p.m. Eastern on Thursday, listeners will hear encore programming until Jan. 25, “at which time Air America programming will end,” Mr. Kireker said.