They suffered an idea deficit from day one, but the financial deficit finally caught up with them.Air America Radio, a liberal talk and news radio network, has filed for Chapter 11 bankruptcy protection, a network official told the AP.
The network had denied rumors just a month ago that it would file for bankruptcy, but on Friday Air America said negotiations with a creditor from the company's early days had broken down.
The network will stay on the air while it resolves issues with its creditors, spokeswoman Jaime Horn told the Associated Press. A formal announcement was expected to be made later Friday.
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Friday, October 13, 2006
Air America Files Chapter 11
The prediction was a month early, but Air America's bankruptcy filing finally took place today:
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