RSSShocker, Not … AIR AMERICA Goes Belly Up Again … Lib Radio is Bankrupt
AIR AMERICA is going silent … from Air American.com.
Add some more jobs to one’s that Barack Onama did not create or save list.
AAR files bankruptcy. My this has been a good week, Scott Brown wins the Massachusetts Senate election, Obamacare all be DOA and … As Another Black Conservative says, the good news keeps on coming.
Unlike Michelle Malkin who is more shocked that Air America has lasted as long as it has on fumes, I am more shocked that we have not heard of an Obama stimulus package targeted for the failed liberal talk radio station.
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. (snip)
Ultimately fell short of success, ya think? As ABC News reported, Air America was created in 2004 to take on Rush Limbaugh. How did that work LEFT? I cannot remember hearing too many Conservative talk show hosts and networks going belly up do to ad revenue.
Air America Radio, a radio network that was launched in 2004 as a liberal alternative to Rush Limbaugh and other conservative commentators, on Thursday shut down abruptly due to financial woes.
The network once boasted hosts such as Al Franken and Rachel Maddow, but struggled from the outset, including multiple management shake-ups, a bankruptcy in 2006 and sale for $4.25 million the following year.
Posted January 22, 2010 by Scared Monkeys Economy, Media, Media Bias, Moonbats, Unemployment | 2 comments |
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Oh, that’s just horrible.
One time, I heard that they had 6 people listening at the exact same time!
Good times.
The free market sure can be a MOTHER when your widget smells like a skunk.
I guess the loser liberals that hang around here like fleas on dogs, were not enough audience. More proof, that America is tired of liberal lies. More proof people are listening to people like Mike Church and Hannity and Mark Levin..because they tell the truth and stand what the majority of America stands for: the Constitution!