Air America Still Alive and Kicking for Now

Well, it seems the originator of the story that Air America was filing for bankruptcy today, Think Progress, has retracted the story. It's a curious situation as the network has been in fiscal trouble for some time now, and was struggling with its audience numbers, which translates directly into advertising revenue.

So, if the network isn't declaring bankruptcy, what's really going on at Air America. Did Think Progress get fed bogus information by a disgruntled employee at AA? Who knows, because they aren't saying. Commenters at TP aren't particularly interested in learning how TP came upon the information that AA was on the verge of filing Chapter 11.

Brian Maloney notes the following:

Yesterday, this site theorized that a faction trying to take control of the network may have been talking down the network's value by "leaking" news of a phony bankruptcy filing. Even though such a plan is still at least within the realm of possibility in the coming weeks, it doesn't appear there's any sort of "restructuring" announcement planned for today.

Can the Center For American Progress admit that it's been had by fellow "progressives"? Will they realize it's a case of liberals eating their own? Or, will this be swept under the rug?

Count on the fact that this is business, and no one talks about the business. /Michael Corleone

My earlier coverage of the possibility of bankruptcy is here.