Air America Goes Off Air
Air America Radio, a progressive radio network that once aired commentary from Al Franken and Rachel Maddow, said Thursday it is shutting down immediately.George Soros -- financial backer of Air America -- has his announcement here. I find it interesting that he blames the broadcast's demise on the economy, overlooking the fact that the radio show has been struggling since its founding in 2004.
The company founded in April 2004 said it ceased airing new programs Thursday afternoon and will soon file to be liquidated under Chapter 7 bankruptcy. It began broadcasting reruns of programs and would end those as well Monday night.
Air America said 10 consecutive quarters of declining ad revenue and the difficulty of making money on the Internet contributed to its financial woes.
"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," the company said in a statement on its Web site.
The network had some 100 radio outlets nationwide.
Franken, a Democrat, hosted his own show from 2004 to 2007 before going on to become a U.S. senator from Minnesota last year after a close election. Maddow went on to host her own TV show on MSNBC.
Ah, yes. The home of such brilliant minds as Rachel Maddow and Stuart Smalley ... er, Al Franken.
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