Via Mrs. Lawhawk's tip, Air America will be filing for bankruptcy. I can't say that I'm surprised, given how poorly the network did in the ratings, and how it couldn't even manage an audience in New York City. The NYC flagship station, WLIB-AM languished in the ratings, bordering on oblivion for months at an end. Air America came to the airwaves on that NYC station by kicking out a relatively decent performing program, and they promptly cratered in the ratings. Their lease was not renewed in August of this year and so moved down the dial. Well, they're now moving even further down the dial - all the way to off.
Michelle Malkin and Brian Maloney of the Radio Equalizer who had been covering the Air America financial scandal and related chicanery from the network's top officials, starting in 2005 with how officials were taking money meant for the Gloria Wise Boys and Girls club and investing it in Air America.
The Gloria Wise Boys and Girls Club has been disbanded, and the AA parent company placed the disputed amount in escrow pending payment.
AA faces litigation over the end of the contractual relationship with the station. It isn't going to be pretty.
UPDATE:
Air America denies the bankruptcy filing is imminent. Al Franken certainly deserves to know the truth of the financial situation at Air America since he's apparently owed quite a bit of money from them.
Others blogging: Dan Riehl, Macranger, Stop the ACLU, Decision 08, and Blue Crab Boulevard.
UPDATE:
Hot Air has a roundup. Allah notes that even though Air America claims that they aren't declaring bankruptcy, Franken's admission that he hasn't been paid in quite some time is a sign that Air America is in deep financial straits. Sister Toldjah and Ed Driscoll are also on the case.
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