Air America Sold For Peanuts

[red states rule]

A few years ago, the left was giddy over the debut of the liberal radio network Air America

The NY Times gave glowing coverage before the network went on the air saying finally the left has their answer to Rush Limbaugh and Sean Hannity

Well, there was one tiny problem. The network had no listeners and no sponsors. Last year the netowrk went bankrupt and now Air America has been sold for only $4.25 million


Air America Fire Sale
Documents: Bankrupt liberal radio network to sell for $4.25 million
FEBRUARY 7--Bankrupt and about to lose Al Franken, its marquee star, Air America Radio is set to change hands for the bargain price of $4.25 million, according to new court documents. The sales figure was disclosed in a purchase agreement filed yesterday in U.S. Bankruptcy Court in New York. According to the agreement, the deal between Air America's owner, Piquant LLC, and a firm controlled by Stephen L. Green, a New York realtor, calls for Green's firm to repay up to $3.25 million in loans provided to Air America after the liberal radio network filed for Chapter 11 protection last October (the company listed debts of $20.2 million). Green's company will also give Piquant LLC $500,000 and pay off up to $500,000 in network debts (the bulk of which, $349,000, is owed to the network's Manhattan landlord). Green's bid topped by more than $1.25 million the nearest offer received by Air America, according to a motion filed along with the purchase agreement. An excerpt from that motion can be found below. Court documents do not specify how many bids were received for the network, though a filing notes that "more than ten interested parties" signed nondisclosure agreements and were allowed to review confidential network financial and corporate records. While Green controls the corporation purchasing Air America, two of the firms that were pre-bankruptcy investors in the radio network will "collectively own a minority interest" in the Green company. The Air America purchase is expected to be finalized at a court hearing in the next week. Franken, who is planning to run next year for a U.S. Senate seat from Minnesota, is scheduled to do his final Air America show on February
http://www.thesmokinggun.com/archive...ramerica1.html

[KitchenKitten99]

does it seem more than a coincidence that the liberals are trying to resurrect the 'fairness doctrine' at this same time?

[Dilloduck]

does it seem more than a coincidence that the liberals are trying to resurrect the 'fairness doctrine' at this same time?

Hell---they have TV. I don't see what the problem is. Captive audience.

[theHawk]

Who the hell whould pay 4.5 million for it?

[Abbey Marie]

When I saw the thread title, I figured that Jimmah Carter must have bought it.

[Ado]

Radio is a tough business--I hardly listen to radio anymore.
And if I do, it's not for talk radio.

[Hagbard Celine]

I pretty much only listen to NPR these days. Been thinking about getting Satellite radio though. I like all the variety on it.

[5stringJeff]

Radio is a tough business--I hardly listen to radio anymore.
And if I do, it's not for talk radio.

It's lefties like you who caused Air America to fail!!! j/k

[red states rule]

This is one of the reasons libs want the Fairness Doctrone. Since people decide NOT to listen to looney left radio, they want to force you to have to listen by removing what you want to listen to

Libs fail everytime they go up against conservatives on cable TV and on talk radio

[Yurt]

Well gosh darn it, nobody likes him.... and he is not smart...

[Ado]

It's lefties like you who caused Air America to fail!!! j/k

I think we like the internet and HBO.

[red states rule]

I think we like the internet and HBO.

Yet the left was bellowing how Air America was their answer to Rush Limbaugh and Sean Hannity

[Ado]

Yet the left was bellowing how Air America was their answer to Rush Limbaugh and Sean Hannity

So they are bad for trying?

That attitude is downright unAmerican.

[Hobbit]

The problem Air America had is that Limbaugh, Hannity, Beck, Boortz, etc. have their radio shows set up with a business model designed to make money. Air America had a model designed to win elections. As a result, they overreached and lost money. Every conservative host started local and went from there, eventually gaining syndication. People pay them to be allowed to carry their shows. Air America paid stations to carry their shows and they ran the advertising. This is because the liberal founders wanted to spread their message farther than they could afford to.

[red states rule]

The problem Air America had is that Limbaugh, Hannity, Beck, Boortz, etc. have their radio shows set up with a business model designed to make money. Air America had a model designed to win elections. As a result, they overreached and lost money. Every conservative host started local and went from there, eventually gaining syndication. People pay them to be allowed to carry their shows. Air America paid stations to carry their shows and they ran the advertising. This is because the liberal founders wanted to spread their message farther than they could afford to.

Libs have this dream where they believe they just have to go on the air and the sponsors will come to them

You have to build the business, you have to go out and find the sponsors, and you have to build the business

Libs are to lazy to do this. Their arrogrance prevents them from buiding the netowork from the ground up