Nova M Going Bankrupt
February 19, 2009 at 5:06 AM (PT)
As expected, NOVA M RADIO is formally filing for bankruptcy after the departure of afternoon host RANDI RHODES.
ANITA DROBNY told THE WALL STREET JOURNAL that the stresses of supporting the syndicator, which was losing $100,000 a month near the end of its existence, led to her husband, co-owner SHELDON DROBNY, having a breakdown that landed him in the hospital. "There were so many wealthy progressives out there who could have made (progressive radio) happen," she told the JOURNAL. "It ended up being on SHELDON's shoulders."
MIKE MALLOY's show joins DR. MIKE NEWCOMB at new entity ON SECOND THOUGHT RADIO NETWORK LLC, based at NOVA M's affiliate KNUV-A/PHOENIX, which will continue to syndicate the show.