Air America Sold For Peanuts

Discussion in 'Current Events' started by red states rule, Feb 8, 2007.

  1. red states rule
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    red states rule Senior Member

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    A few years ago, the left was giddy over the debut of the liberal radio network Air America

    The NY Times gave glowing coverage before the network went on the air saying finally the left has their answer to Rush Limbaugh and Sean Hannity

    Well, there was one tiny problem. The network had no listeners and no sponsors. Last year the netowrk went bankrupt and now Air America has been sold for only $4.25 million


    Air America Fire Sale
    Documents: Bankrupt liberal radio network to sell for $4.25 million
    FEBRUARY 7--Bankrupt and about to lose Al Franken, its marquee star, Air America Radio is set to change hands for the bargain price of $4.25 million, according to new court documents. The sales figure was disclosed in a purchase agreement filed yesterday in U.S. Bankruptcy Court in New York. According to the agreement, the deal between Air America's owner, Piquant LLC, and a firm controlled by Stephen L. Green, a New York realtor, calls for Green's firm to repay up to $3.25 million in loans provided to Air America after the liberal radio network filed for Chapter 11 protection last October (the company listed debts of $20.2 million). Green's company will also give Piquant LLC $500,000 and pay off up to $500,000 in network debts (the bulk of which, $349,000, is owed to the network's Manhattan landlord). Green's bid topped by more than $1.25 million the nearest offer received by Air America, according to a motion filed along with the purchase agreement. An excerpt from that motion can be found below. Court documents do not specify how many bids were received for the network, though a filing notes that "more than ten interested parties" signed nondisclosure agreements and were allowed to review confidential network financial and corporate records. While Green controls the corporation purchasing Air America, two of the firms that were pre-bankruptcy investors in the radio network will "collectively own a minority interest" in the Green company. The Air America purchase is expected to be finalized at a court hearing in the next week. Franken, who is planning to run next year for a U.S. Senate seat from Minnesota, is scheduled to do his final Air America show on February
    http://www.thesmokinggun.com/archive/years/2007/0207071airamerica1.html
     
  2. CTRLALTDEL
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    CTRLALTDEL Member

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    LOL!!!!! Proof that political radio only works for people who can't think for themselves. :razz:
     
  3. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    wouldnt people who think for themselves know how to make money off what they are saying and get an audience?
     
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  4. glockmail
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    glockmail BANNED

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    Yeah- that makes sense... not! :rofl: :rofl:
     
  5. CTRLALTDEL
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    CTRLALTDEL Member

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    If your audience is people who think for themselves and have thier own political views, who's gonna listen to you? I certainly don't need Al Franken to tell me what to think. I never listened to Air America and I don't listen to Rush either (well sometimes just for laughs).
     
  6. CTRLALTDEL
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    CTRLALTDEL Member

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    You must be a right wing talk show drone. Only proving my point. LOL!!!
     
  7. T-Bor
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    T-Bor Active Member

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    Red States ALL YOU DO IS BITCH AND WHINE AND COMPLAIN ABOUT THE LEFT !!! For Christ sake man give it a rest. Go look at everyone of your posts. You act like the Republicans are the cure and left is some kind of disease. You are just so brainwashed its disturbing. Within the first sentence of almost all of your posts you say The left does this or the Left does that. Dems believe this and that. But you never ever ever say anything wrong about the republicans. Like they are freaking saints or something. Like they never do anything wrong. Like Everything they decide is right. You are the most delusional person on this board and it is sad.
     
  8. CaffeineKid1988
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    CaffeineKid1988 Member

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    :rofl: Something tells me I need to save this post for future reference...hee hee hee...
     
  9. CaffeineKid1988
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    CaffeineKid1988 Member

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    I don't know why everybody's so freaked out about Rush. His show is BORING! The fact that he and I usually agree means nothing...If it doesn't entertain me and keep me thinking, I don't listen....yawwwwwn.......
     
  10. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    Isnt it funny that those who claim to think for themselves all sound the same?
     

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