Thursday, September 14, 2006

Air America Denies Bankruptcy Rumor

September 14, 2006

Air America, the liberal leaning talk channel with a satellite radio home on XM Satellite Radio is denying reports that they are going bankrupt. The cash strapped business does acknowledge issues, but states clearly that they have no plans to file bankruptcy (does anyone ever plan going bankrupt?).

These reports originate from an article published today by the Associated Press

Article Excerpt:

Associated Press

Air America: No Plans for Bankruptcy By LARRY McSHANE , 09.14.2006

Financially strapped Air America Radio, after star commentator Al Franken said his paycheck had stopped coming, acknowledged Thursday that it had laid off a few employees but insisted it has no plans to declare bankruptcy.

"If Air America had filed for bankruptcy every time someone rumored it to be doing so, we would have ceased to exist long ago," Jaime Horn, a spokeswoman for the liberal talk show network, said in a statement. "It may be frustrating to some that it hasn't happened." Horn, without getting specific, said there were "a handful of layoffs" that followed a move of the network's New York outlet from WLIB-AM to WWRL-AM, a station with a less powerful signal.

The network launched in March 2004. Franken, broadcasting Thursday from New York, said he was aware of the bankruptcy rumors. "We may or may not, that's what I'm hearing," Franken said at the start of his noon broadcast. But he assured listeners that the financial problems wouldn't silence the network.

"Let me say one thing; if we do go into bankruptcy - I've flown on United (Airlines)," he said. "They went into bankruptcy.".........

Interested SSG readers can catch the whole story HERE

9/14/2006 02:11:00 PM

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