Air America Price Tag: $4.25 Million
February 7, 2007 at 10:29 AM (PT)
STEPHEN GREEN, the founder and Chairman of SL GREEN REALITY CORP. who reached a tentative agreement to buy the struggling AIR AMERICA radio network (NET NEWS 1/29), is spending $4.25 million, according to bankruptcy court documents.
The network filed for bankruptcy protection last fall after reaching an impasse with one of its creditors.
According to documents filed yesterday (2/6) with the U.S. Bankruptcy Court for the Southern District of NEW YORK, GREEN's $4.25 million offer for the company was the highest offer and was $1.25 million more than any other offer.