Thursday, January 21, 2010

Air America Going Bankrupt !!!!!

Air America Going Bankrupt !!!!! on Hot Topics -- Suffering on air in US for a long time can not make assure a company will stand on the storm. Did you know Air America???? Are you the one of Air America???. Charlie Kireker -the chairman of Air America Media- said in a statement that the company would file under Chapter 7 bankruptcy “to carry out an orderly winding-down of the business.” Air America abruptly shut down on Thursday, bowing to what it called a “very difficult economic environment.”

Then Mr Kireker said In a troubled time for advertising-driven media businesses, “our painstaking search for new investors has come close several times right up into this week but ultimately fell short of success,”

The closing did not come as a surprise. Air America, which began six years ago and has 100 affiliated stations, cycled through a number of owners and never found its financial footing. It first filed for bankruptcy protection in 2006 but managed to stay on the air.

“The fact of the matter was, it was always a very challenging business proposition, and it never had the right management,” said Sam Seder, who hosted programs on Air America until last year.

Although it lacked a substantial audience, the network catapulted a number of progressive media personalities into stardom, most notably Rachel Maddow, who now anchors a prime-time program on the cable news channel MSNBC.

Mr. Kireker noted in his statement that advertising revenue in the radio industry had fallen for several years now. “Signs of improvement have consisted of hoping things will be less bad,” he said, adding that “our company cannot escape the laws of economics.”

Air America started to play rerun programming rather suddenly Thursday evening. The company said it would sign off completely next Monday night.

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air america radio, thom hartmann, randi rhodes, air america bankrupt, ron reagan