Air America Responds To Bankruptcy Rumor
September 13, 2006 at 1:10 PM (PT)
AIR AMERICA RADIO has issued a statement responding to the CENTER FOR AMERICAN PROGRESS' THINKPROGRESS.ORG's report that the network is about to file for bankruptcy, saying that "if AIR AMERICA had filed for bankruptcy every time someone rumored it to be doing so, we would have ceased to exist long ago; it may be frustrating to some that this hasn’t happened. No decision has been taken to make any filing of any kind, we are not sure of the source of these rumors and frankly can not respond to every rumor in the marketplace. "
THINKPROGRESS.ORG's "exclusive" report claimed that its sources say AAR will announce a "major restructuring on FRIDAY, which is expected to include a bankruptcy filing." The item says that the deal may keep AAR on the air but THINKPROGRESS.ORG, a liberal news/commentary website, says that "significant personnel changes are already in the works" and that five employees were laid off yesterday and "were told there would be no severance without capital infusion or bankruptcy."
The item goes on to report that CLEAR CHANNEL is still committed to the idea of liberal talk radio and will announce a partnership with the CENTER FOR AMERICAN PROGRESS, JONES RADIO, and MSS INC. to conduct a search for the "next Progressive Talk Radio Star." CLEAR CHANNEL already has local hosts on some of its liberal Talk outlets, including KKZN-A/DENVER's JAY MARVIN, KLSD-A/SAN DIEGO's STACY TAYLOR, KTLK-A/LOS ANGELES' JOHNNY WENDELL, CARY HARRISON, and JOE MCDONNELL, and WINZ-A/MIAMI's JIM DEFEDE.
Read the THINKPROGRESS.ORG posting by clicking here.