Lib talk radio flops again: Air America goes bankrupt
Thanks to David Lunde for the photoshop
The surprise isn’t that liberal talk radio network Air America announced it is going bankrupt today.
The surprise is that they lasted so long on fumes.
Here’s an excerpt of the statement on its website pulling the plug (hat tip: Brian Stelter, who has more here):
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 very difficult economic environment has had a significant impact on Air America’s business. This past year has seen a “perfect storm” in the media industry generally. National and local advertising revenues have fallen drastically, causing many media companies nationwide to fold or seek bankruptcy protection. From large to small, recent bankruptcies like Citadel Broadcasting and closures like that of the industry’s long-time trade publication Radio and Records have signaled that these are very difficult and rapidly changing times.
Those companies that remain are facing audience fragmentation as a result of new media technologies, are often saddled with crushing debt, and have generally found it difficult to obtain operating or investment capital from traditional sources of funding. In this climate, our painstaking search for new investors has come close several times right up into this week, but ultimately fell short of success.
With radio industry ad revenues down for 10 consecutive quarters, and reportedly off 21% in 2009, signs of improvement have consisted of hoping things will be less bad. And though Internet/new media revenues are projected to grow, our expanding online efforts face the same monetization and profitability challenges in the short term confronting the Web operations of most media companies
When Air America Radio launched in April, 2004 with already-known personalities like Al Franken and then-unknown future stars like Rachel Maddow, it was the only full-time progressive voice in the mainstream broadcast media world. At a critical time in our nation’s history — when dissent on issues such as the Iraq war were often denounced as “un-American” — Air America and its talented team helped millions of Americans remember the importance of compelling discussion about the most pivotal events and decisions of our generation.
Through some 100 radio outlets nationwide, Air America helped build a new sense of purpose and determination among American progressives. With this revival, the progressive movement made major gains in the 2006 mid-term elections and, more recently, in the election of President Barack Obama and a strongly Democratic Congress.
As long-time readers know, Radio Equalizer blogger Brian Maloney and I extensively investigated the shady finances of Air America’s Titanic.
And as long-time readers know, Al Franken was in the thick of the corporate meltdown. Norm Coleman’s campaign reminded voters of his failure to account:
Sen. Franken hasn’t lobbied for a bailout, as far as we know. But don’t breath a sigh of relief yet. They’re still swinging the Fairness Doctrine noose. When they can’t compete in the marketplace, the Left will use the power of government to squash their competitors.
***
Neal Boortz quips on Twitter: “Air America evidently couldn’t find another Boy’s Club to steal money from.”
***
Graveyard of left-wing radio failures:
Buh-bye, Whoopi: Another failed liberal talk radio venture
It’s over for Nova M – the liberal talknet files for bankruptcy
Left-wing Austin, Texas gives Air America the boot
DUMPED IN MADISON: Libtalk Now Canned In Four Cities
I.E. America Radio Network shuts down
‘Progressive’ Talk Host Stephanie Miller Blames Liberal Radio Struggles on Station Owners
See what others have said
Note from Michelle: This section is for comments from michellemalkin.com's community of registered readers. Please don't assume that I agree with or endorse any particular comment just because I let it stand. A reminder: Anyone who fails to comply with my terms of use may lose his or her posting privilege.
Comments
You must be logged in to post a comment.
 |
The Hate Speech Inquisition
January 19, 2011 08:36 AM by Michelle Malkin
77 Comments$6 billion payoff: Barney Frank gives in to Congressional Black Caucus shakedown crew
December 10, 2009 10:22 PM by Michelle Malkin
52 Comments
Congressional Black Caucus pushes bailout for Air America/Sharpton/Jackson crony
December 3, 2009 12:51 PM by Michelle Malkin
24 Comments
Waaah: Libs want segregated best-seller lists
November 11, 2009 03:26 PM by Michelle Malkin
87 Comments
Connecting the “media justice” dots
November 3, 2009 01:50 PM by Michelle Malkin
19 Comments
Obama’s FCC, liberal churches, and the “media justice” mob
October 28, 2009 04:59 AM by Michelle Malkin
119 Comments
“Open a notice of inquiry into hate speech in the media.”
October 20, 2009 12:12 PM by Michelle Malkin
54 Comments
Categories: Fairness Doctrine
Weekly Standard
» White House Economic Adviser: 'We Need a Global Minimum Tax'Pundit & Pundette
» Bishop Jenky, Nicki Minaj, and the "98%"Sister Toldjah
» Obama’s new budget is a bad jokeJustOneMinute
» We Hear From The Department Of Good Ideas And False Choices
Chapter 7 has such a nice ring to it.
Liberals cannot and never will compete with ideas, all they can do is try to shut down voices of opposition. This is Marxist to the n’th degree and must be stopped.
That’s true.
Well,except for ABC , NBC,CBS, NPR,MSNBC, CNN,PBS,MTV,not to mention the ingrained propaganda of TV shows ,Movies et al.
MSNBC is right behind them…
I don’t hear Rush complaining that his advertising revenues are falling.
Next Gore’s CURRENT TV will become obsolete tv.
After that,
NYT
WAPO
Dinosaurs called ABC, CBS, and NBC.
PMS-N-BS……
RUSH LIMBAUGH YOU MAGNIFICENT BASTARD.
(or whichever conservative is responsible for this omgterrible tragedy of free market failure)
This kind of news could get an on-air personality to get drunk, fall over and acuse conservatives of beating her up.
I thought they were already bankrupt. Well, bankrupt in the financial and not just the intellectual and moral dimensions of that term.
Somehow, though, I still think they’ll come up with a way to keep their Portland, Oregon station going — it may be the only city in the country with Moonbat Radio on both the AM and FM dials, and that’s a badge of honor I’m sure they won’t want to relinquish without a struggle.
I feel so sorry for all eleven of their listeners.
The video is removed already???
This allows Janeanne Garafolo to run for public office, right?
There is absolutely no reason to visit Portland since the Henry Weinhardt
shrinebrewery closed down.Ten. Chap’s wife just got a Kindle.
Bankruptcy couldn’t happen to a nicer group of people.
*smirk*
Where’s the bailout? And the mandatory union contributions?
Has anyone else noticed the timing of this? We all have known for some time that Air America was broke and has been for awhile. My guess is that with Brown being the 41st vote they know there is no way that Congress will pass any bailout money for them to continue to operate.
They will blame Bush for this too.
Say it ain’t so. The government owned banks and auto companies wouldn’t spend their ad budgets to keep RadioBarak afloat.
Correct me if I’m wrong, but an orderly winding down would take place under chapter 11. Chapter 7 means immediate liquidation of assets, and creditors get what’s left. Generally 5 or 10 cents on the dollar.
No amount of Fairness Doctrine could save it. TV ratings show the same thing — there is no demand out there for socialistic, BDS, left wing blather.
Faulty business plan….too much competition from nationwide major media outlets with identical content!
I honestly had no idea it was still around.
You can not fool some of the people even some of the time. I truly hope that certain people will vote rightly and the American Way.
“Air America……Gertrude Check, over?”
“I repeat…Air America….Gertrude Check, over?”
No contact.
Oh, snap!
I thought it was dead and buried already, so when I saw MM’s headline, there was a distinct sense of déjà vu.
I think their ratings just barely beat out the 3 am Emergency Broadcast System test.
Can you hear me now? NOPE
“Bye, Bye, Miss Air America Pie, drove your financiers broke while telling the lie, with the good old voices of Al and JG singing this is the day that we die”
Oh no! More victims to the unemployment rolls. LOL!
Truesoldier, absolutely! The EIB network of 600+ stations is going strong.
Thanks God MM.com and HotAir.com are thriving. And if they ever decide to put up the “paypal” link, I’m in for my fair share, you have my word on it.
“Land ho!”
“Uh, Captain, that’s the bottom of the ocean.”
one less pollutant on the airwaves…now if we could get some of those spanish language stations to go bye-bye…
off topic: everybody don’t forget to watch Glenn Beck tomorrow!!! a must see for those of you who didn’t learn the things you should have in school!!
Where, oh where, can I go now to hear the voice of reason and truth? I’m heart broken.
The solution to this disaster is more government regulation of public airwaves. =]
If it weren’t for this site,Hot Air,and the other sites like these I would have had the time to listen to them.I blame Michelle and those like her./
Don’t worry. I am still around.
Live programming? Who knew??
Next on the chopping block should be NPR. They are so blatantly liberal shills and I am tired of paying for the disinformation.
At least not until they can sneak it into a defense spending bill for money that our troops in Afghanistan and Iraq are in desperate need of.
Rush, Hannity, Laura, Savage, Hewitt etc etc etc all seem to be getting along OK in spite of the new media technologies. so I don’t think that’s the problem. Given the number of Dem and independant voters that turned out for Scott Brown, I’m thinking it’s not because they were listening to Air America.
Every time I skip past PBS on the telly, I self-flagellate.
PBS, the telethon channel.
What cracks me up is the NYT is going to start charging for internet access to their site. LOL good luck with that.
Brown wins, dems in panic mode, dems face bloodbath in November, health care as good as dead, Silky Pony admits he’s the father, Air America is bankrupt… if this is a dream, please don’t wake me.
Portland? That figures
Wait a minute! Isn’t AirAmerica too big to fail? I’m sure they can squeeze some money from the TARP funds for them.
Of course, Limbaugh, Hannity, Levin, Elder, et.al., are just hate-filled right wing nazis, and are not entitled to TARP funds. AirAmerica is a bipartisan voice that speaks for all freedom-loving peoples of the world.
Barf.
***
What was the final outcome of Senator Al Franken not paying New York taxes on his Air America employees? Did he just get a liberal pass on all of this? How many unpaid debts does Air America owe creditors? Who would be stupid enough to extend credit to Air Titanic?
***
John Bibb
***
Yeah, I heard that too. They’re going to let you see some articles for free but charge you for others. I’m not sure how this is going to work out.
I don’t even click on links to the NYT; I don’t want to add to their hit counter. As it is, they’re probably just positioning themselves as the next “industry” that’s “too big to fail.”
Soros bailed them out before, he might again.
I thought they already tried that and it was a rousing failure.
The SCOTUS disassembles McCain/Feingold unconstitutional B.S., the people of Massachusetts vote for the People’s seat (Mary Jo Kopechne was not available for comments), and now Radio America goes down in flames!!!
It is a great week for FREEDOM!!!
How is that “Hope and Change” working out for you, libs?
Rio
Semper Fi!
–
MOLON LABE!
I am COMPLETELY convinced of no Hope & Change whatsoever for Air America…..libs don’t believe in the resurrection..
“smirk”
Rio
Semper Fi!
No more Air America? Ohhhh, wahhhh
Tee-Hee.
Air America, you couldn’t sell BULL SHEET because real Americans prefer BEEF. Air America, you can now beg for a free ride on the so-called “fairness” doctrine. You are Loosers!
The most suprizing thing about that news flash is that they were still in business
What an absolute waste of air space
Just like every democrat organization though, they ran out of someone elses money
Isn’t so deliciously ironic? A bunch of “progressives” taking umbrage under the aegis of the capitalist system they so loathe?
what will the folks of berkely, boulder, and austin listen to now?
I believe the great philosopher Nelson Muntz said it best;
“Ha ha”
They’re only going to make you pay for articles about Palin. Libs will pay so they can read the faux-ming at the mouth attacks, and Conservatives will pay because they like her.
NPR II failed again?
When will the Democrats create a jobs bill that includes money toward the Air America Pet Sematary for proper burial? Democrat pet projects seem to die from neglect and abuse.
This is the place where the dead speak.
What you own always comes home to you.
Great Movie!
Air America is signing off at exactly 6pm ths evening. They are having a retrospective outlining their positive contributions to the country begining at 5:59pm. Don’t miss it!
The problem they had is that Air America sounds too much like a SEA CIA operation. They should have cut to the chase and called it “Red Radio.” At least that way, the
progressivescommunists would have known to listen.ECS
I just heard about Air America’s death quiver a few minutes ago. I went to DU to see how they were taking the news. Did a search and found hundreds of thread about Air America…… but oddly, nothing on its death yet. they hate talking about bad news. LOL!
So long Err America, you won’t be missed!
Air America was still broadcasting? Oh, wait, can I say broadcasting? Won’t Ms. Garafalo and her ilk have a pantie wadded nervous breakdown due being forced to read the word ‘broad’?
Should have been called narrowcasting anyway for the mindset these tools had.
(cough) BS! (cough) How come all the radio presets in your Bimmer were set to it?
How ironic, sunk by the ultimate FCC “Fairness Doctrine” censorship, Capitalism!
A one minute obit?
Bankrupt of intelligent thought, just like their listeners.
How many times now has AirHead America failed? About as many times as the Democrat party? Will elevator muzac of Percy Faith replace the programing? I hope so.
So, now it is a matter of public record that Al Franken is worthless…
And Jake Tapper of ABCNews tweets that all these people lost their jobs…don’t be so happy.
Boo hoo. Get over it. People with real jobs lose them all the time.
Those who can’t handle the truth,
try to silence those who speak it.
Next month some other bunch of “progressives” will launch another show. If no-one will listen to them, any amount of “doctrines” won’t force the public to listen.
In the spirit of Liberal values they should at least receive a participation ribbon so they won’t feel like they really lost.
I have personally done my part to eradicate liberals from my departments at work. It’s been a tough job but, someone has to do it. Only a few more to go and we’re a lib free zone.
Mr. Ed’s Backside Theater
Now, what could have happened this week that might have convinced potential investors to back away? I’m sure Air America had a great sales pitch about how they were about to experience a huge surge in liberal listeners. What could have possibly torpedoed their message?
Oh right, a Republican replaced a Kennedy in the Senate. Even left-leaning investors can read the writing on the wall…
First, let’s start a list of leftist ‘producers’:
1.
I though they were done a long time ago.
I guess they couldn’t compete against ABC, NBC, ABC, CBS, MSNBC, NYTimes, CNN, etc. The other full-time progressive news outlets.
PBS, NPR, HNN, E!, ESPN…
You mean the programming was so bad they couldn’t even hit up George Soros for money?
When are “progressives” (read it: socialists, commies, liberals) going to realize that people in this country are primarily center/right and just don’t believe their hateful, ignorant crap? Falling subscriptions for the NYTimes and other liberal publications are just the beginning.
To paraphrase the great Dean Wormer: “Son, navel gazing and mental masturbation are not the basis for a successful radio network”.
If they are so talented, why are you going Chapter 7?
Their statement, typical of progressives blaming their misfortune on everyone else but never themselves, can be reduced to a single sentence:
Our programming sucked and no one was willing to pay to advertise on stations nobody listens to.
Pants on the ground.
Pants on the ground.
Watch Glenn Beck today at 5 EST. Live free or die will be a real eye-opener. The lib/progressive movement is falling apart and this might be the straw that broke the camels back. The truth shall set you free…..like that ring TRUTH!!!!!
Too bad Franken didn’t go down with the ship.
Law and Order x 7 or 8? They have all the AirHead America themes: Bush Did It, Christians, Business men and Viet Nam Veterans bad-left over hippies good.
All I can say is….HAHAHAHAHAHAHAHAHAHAHAAAAAAAAA
I heard that Garafalo woman discuss the last bankruptcy, and she blamed a bad business model.
It’s radio. It’s a proven business model. The real problem is that 90% of America doesn’t want to listen to the other 10% screech and whine.
On January 21st, 2010 at 6:43 pm, chapoutier said:
Liberals making the same mistakes over and over? Whoda thunk it?
NPR would be next if they didn’t get taxpayer dollars.
America’s Chapter 11 bankruptcy laws were the only thing keeping this dinghy afloat.
As an old lawyer once said, “America is protected from demagogues by vast reservoirs of common sense.”
sorry to say that Franken’s fat head would keep him afloat.
Wow, I must be out of the loop. I thought they already went out of business. Shows how much I know.
Me too! I thought they were gone a long time ago. Better late than never, I guess!
Rob Roy:
LOLOLOL
Wonderful news!
Now perhaps our failing local AM station will bring back Ken Hamblin, Sean Hannity….. and market profits.
The truth is that most of their on-air personalities found more lucrative positions in the housekeeping, and food service industries.
Errah, where will Janeanne Garafalhoe spew her veneom against racist ignorant homophobic teabaggers then? Satan’s handyman Bill Mahar is the only option.
In honor of the passing of Air America, let us reflect on all of Air America’s highlights over the years…
In other words, let’s have a “moment of silence.”