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February 07, 2007

Air America Bankrupcy Sale … $4.25 Million and its Yours

Posted in: Business,Media

Air America … going … going … gone! Sold to the man for $4.25 million. Who could have seen this coming from the inception of the liberal talk radio network? Air America was conceived as a “for-profit” liberal operation to respond to conservative talk radio like Rush Limbaugh, Sean Hannity and the rest. Just another example of some things should be left to professionals. Air America has been nothing more than a liberal money pit disguised as a radio medium to attempt to get a liberal message out on the radio air-waves. A business model would have been a proper thought as well.

One cannot just sink money into a failed program year after year and get no results. That sounds more like a liberal government entitlement program. Alas, the reality is that was all Air America ever was.

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).

Read the full story at The Smoking Gun.

Let’s check back on Wizbang’s “Air America” Dead pool

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