Air America has gone bankrupt after launching a little over two years ago. My only question is what took so long? Only the delusional management and "talent" at Air America could have convinced themselves that the world was waiting for a leftist national radio network and that such a network could be a commercial success. After all, liberals have always been associated with sound fiscal planning. Air America, after nearly imploding before it ever went on the air, has managed in a little over two years to lose over 40 million dollars.
Air America was a bad idea from the start. Liberals dominate, oh, just about all media with the exception of talk radio. And even on radio there is the liberal NPR that exists in the protected sphere of public radio. Air America filled a void that didn't exist. Of course, Air America has vowed to continue:
Riiiiight. So Air America's spin on the bankruptcy essentially translates to "our format is successful because a few hundred folks in Berkeley and New York love it, though they can't understand why we haven't advocated for the violent overthrow of the goverment more. Unfortunately, because we have no business acumen, we spent like drunken sailors on leave and failed to notice we weren't making any money. We're confident we can continue to operate with a new business model that relies on government subsidies and broadcasting with tin cans connected by stings."
"[We] do not think this says anything about the viability of progressive talk," said Air America spokeswoman Jaime Horn. "We had a cost structure that did not support the revenue. We are confident that this transition will enable the business to grow."
Good luck with that.