Re: [IRCA] RIP Air America Radio

["Mike Brooker" <aum108@xxxxxxxxxxx>]

> all gone by next week it appears
>
> http://en.wikipedia.org/wiki/Air_America_Radio

>
I trust Wikipedia like a three-dollar bill, so looked for proof on 
http://airamerica.com/ that they are really toast.

Sure enough:

It is with the greatest regret, on behalf of our Board, that we must 
announce that Air America Media is ceasing its live programming operations 
as of this afternoon, and that the Company will file soon under Chapter 7 of 
the Bankruptcy Code to carry out an orderly winding-down of the business.

The very difficult economic environment has had a significant impact on Air 
America's business. This past year has seen a "perfect storm" in the media 
industry generally. National and local advertising revenues have fallen 
drastically, causing many media companies nationwide to fold or seek 
bankruptcy protection. From large to small, recent bankruptcies like Citadel 
Broadcasting and closures like that of the industry's long-time trade 
publication Radio and Records have signaled that these are very difficult 
and rapidly changing times.

Those companies that remain are facing audience fragmentation as a result of 
new media technologies, are often saddled with crushing debt, and have 
generally found it difficult to obtain operating or investment capital from 
traditional sources of funding. In this climate, our painstaking search for 
new investors has come close several times right up into this week, but 
ultimately fell short of success.

With radio industry ad revenues down for 10 consecutive quarters, and 
reportedly off 21% in 2009, signs of improvement have consisted of hoping 
things will be less bad. And though Internet/new media revenues are 
projected to grow, our expanding online efforts face the same monetization 
and profitability challenges in the short term confronting the Web 
operations of most media companies

When Air America Radio launched in April, 2004 with already-known 
personalities like Al Franken and then-unknown future stars like Rachel 
Maddow, it was the only full-time progressive voice in the mainstream 
broadcast media world. At a critical time in our nation's history - when 
dissent on issues such as the Iraq war were often denounced as 
"un-American" - Air America and its talented team helped millions of 
Americans remember the importance of compelling discussion about the most 
pivotal events and decisions of our generation.

Through some 100 radio outlets nationwide, Air America helped build a new 
sense of purpose and determination among American progressives. With this 
revival, the progressive movement made major gains in the 2006 mid-term 
elections and, more recently, in the election of President Barack Obama and 
a strongly Democratic Congress.

Laws have changed for the better thanks to this revival.....but all the same 
our company cannot escape the laws of economics. So we intend a rapid, 
orderly closure over the next few days. All current employees will be paid 
through today, January 21. A severance package will be offered tomorrow to 
full-time current employees with more than six months of tenure.

We will strive to assist affiliates and partners in achieving a smooth 
transition. Starting at 6 pm EST today, we will provide our affiliates, 
listeners and users a selection of encore programming until 9 pm EST on 
Monday, January 25, at which time Air America programming will end.

We are proud that Air America's mission lives on through the words and 
actions of so many former radio hosts who are active today in progressive 
causes and media nationwide. In the years ahead, as we look back, we should 
all be proud of our passionate determination to assure that our nation's 
progressive voice would be heard loud and clear. Through the hard work and 
dedication of current staff, and those who preceded you, a lasting legacy 
was forged which will now continue through other voices and venues.


73

Mike Brooker
Toronto, ON 

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