Air America Radio files Chapter 11

gldstwmn · #1 10-13-2006, 11:07 AM

http://www.cnn.com/2006/SHOWBIZ/10/1....ap/index.html
NEW YORK (AP) -- Air America Radio, a liberal talk and news radio network that features the comedian Al Franken, has filed for Chapter 11 bankruptcy protection, a network official told The AP.

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 American 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."

strandinthewind · #2 10-13-2006, 11:09 AM

It has been rumored to be coming for months. I think it is odd that the ultra conservative hosts make a killing and there really are no similar ultra liberal ones.

SuzeQuze · #3 10-13-2006, 01:01 PM

Quote:

Originally Posted by strandinthewind

It has been rumored to be coming for months. I think it is odd that the ultra conservative hosts make a killing and there really are no similar ultra liberal ones.

They're coming. Schultz was on Larry King this week. It just is taking time for them to gain ground. AAR keeps getting new affiliates so I don't get why they aren't doing well. Hopefully the new CEO knows what he is doing. AAR isn't the only co out there, there is also the Jones Radio Network.

strandinthewind · #4 10-13-2006, 01:03 PM

None of those are on the level as BO, Hannity, RL, etc. Not even close. I think that sucks, but it is indicative if not dispositive of the market interest. I think that is a parralell to why the R's raise so much more money than the D's. I think in some way, the D's just reach less people or at least less people with money. It is an interesting issue though. I would love to research it one day.

SuzeQuze · #5 10-13-2006, 01:18 PM

Quote:

Originally Posted by strandinthewind

None of those are on the level as BO, Hannity, RL, etc. Not even close. I think that sucks, but it is indicative if not dispositive of the market interest. I think that is a parralell to why the R's raise so much more money than the D's. I think in some way, the D's just reach less people or at least less people with money. It is an interesting issue though. I would love to research it one day.

Part of it is due to getting rid of the fairness laws where it became okay to give only one political side over the public airwaves. Then, the people that have the money are largely Rs and setup R shows. They did not develop their markets quickly either, it struggled at first. AAR is definitely fighting an uphill battle but I think they can get there, especially with someone like Schultz there. He's just so damn reasonable.

Rhodes (from Jones) insists that any market where her show is up against Limbaugh she kicks his ass.

On edit: I predict that ES will be a household name one day.

strandinthewind · #6 10-13-2006, 01:24 PM

I get the fairness laws stuff, but think it is a bogus argument. If the product is wanted, it will sell

Certainly, CNN learned that from Fox

The liberal media comes across as the 98 ound weakling in the school yard that gets the ****tee kicked out of it by the bully and until that changes, conservative shows will rule.

SuzeQuze · #7 10-13-2006, 01:39 PM

Quote:

Originally Posted by strandinthewind

I get the fairness laws stuff, but think it is a bogus argument. If the product is wanted, it will sell

Certainly, CNN learned that from Fox

The liberal media comes across as the 98 ound weakling in the school yard that gets the ****tee kicked out of it by the bully and until that changes, conservative shows will rule.

Well, it's starting from the bottom up. Plus, they do not have a television channel. I really don't think it's bogus either. If no one is willing to carry a product, like a store just won't put it on its shelf, how is it going to sell? The big companies are largely R and they're the ones who own the stations.

SuzeQuze · #8 10-13-2006, 02:21 PM

Ed's talking about this. http://www.wegoted.com/ His show is apparently not even owned by AAR.

SuzeQuze · #9 10-13-2006, 02:32 PM

Okay, no Ed isn't paying me, but here he talks about the "slow" progress of liberal talk and why ownership is an issue. http://youtube.com/watch?v=W0V0XWjfz3k

DavidMn · #10 10-13-2006, 02:34 PM

The Jerry Springer of the infamous tv show?

strandinthewind · #11 10-13-2006, 02:34 PM

If you build a better mousetrap, the world will beat a path to your door

In this instance, the product is out there already in the form of Air America - it just did not sell.

SuzeQuze · #12 10-13-2006, 02:36 PM

Quote:

Originally Posted by strandinthewind

If you build a better mousetrap, the world will beat a path to your door

In this instance, the product is out there already in the form of Air America - it just did not sell.

Did you ever listen? I don't know how it was managed and what not. Please just watch the youtube link above. I don't agree that they have failed. The phoenix will rise again. There is a market.

strandinthewind · #13 10-13-2006, 02:39 PM

Quote:

Originally Posted by SuzeQuze

Did you ever listen? I don't know how it was managed and what not. Please just watch the youtube link above. I don't agree that they have failed. The phoenix will rise again. There is a market.

No, it, like RL and crewe, is not my deal.

If there is a larger market - which has yet to be found - then they need to approach it a different way.

SuzeQuze · #14 10-13-2006, 02:41 PM

Quote:

Originally Posted by strandinthewind

No, it, like RL and crewe, is not my deal.

If there is a larger market - which has yet to be found - then they need to approach it a different way.

Who is RL? I don't know how you can dismiss something you've never even heard. I agree, AAR needs to do something different for sure since what they've done has led them here!

strandinthewind · #15 10-13-2006, 02:44 PM

I do not need to listen to it to make the correct observation that it failed for lack of reaching a market large enough to sustain its costs - hence the bankruptcy, which speaks for itself

If we use your logic, BTW, then how can you dismiss RL (Rush Limbaugh) because I am confident you do not listen to him