Air America is officially off the air. Of course, the only surprise here is that they lasted as long as they did. They've had financial problems for a long time. Going from memory, I believe they've had financial problems right from the start.
Here's a little secret for those who don't understand business. You have to be a business first, not a propaganda machine. Progressives can't stand Rush Limbaugh, they can't figure out why he's so successful. Yet he tells everyone the answer all the time ...
He entertains people! He's in the business of generating the biggest audience he can so he can charge his advertisers as high a rate as possible. This common sense. You don't need a business degree to understand you have to make money in order to keep the lights on (and your employees paid).
Air America launched on the belief that being a progressive propaganda machine, then hired below-average talent to boot. They had no idea they had to actually keep the audience entertained and happy (yes, customers have to be earned). Instead they thought they could just spout progressive nonsense (assuming people would eat up). You have to draw an audience so advertisers will pay, or you go out of business.
Air America couldn't draw an audience or profitable advertisers.
Here's more on Air America ...
Air America, the liberal talk-radio network that helped boost the careers of Al Franken and Rachel Maddow, said Thursday that it was declaring bankruptcy and going off the air.
The company, founded in 2004 and based in New York, strove to provide left-leaning commentary and call-in programs as an alternative to such popular conservative radio talkers as Rush Limbaugh, Sean Hannity and Michael Savage.
It was troubled almost from the start. The company had difficulty lining up affiliates and attracting a sizable audience. It filed for Chapter 11 bankruptcy-court protection just 30 months after its inception and was resold to an investor group in early 2007 for $4.25 million.
The surprise isn’t that liberal talk radio network Air America announced it is going bankrupt today.
The surprise is that they lasted so long on fumes.
As long-time readers know, Radio Equalizer blogger Brian Maloney and I extensively investigated the shady finances of Air America’s Titanic.
And as long-time readers know, Al Franken was in the thick of the corporate meltdown.
Exit question: Brown wins, ObamaCare’s on life support, McCain/Feingold gets gut-punched by SCOTUS, now this. What happens tomorrow? Does Rupert Murdoch buy the Times or something?
Air America is shutting down.
The progressive talk radio service, which previously employed personalities including Al Franken and Rachel Maddow, is filing for Chapter 7 bankruptcy
"to carry out an orderly winding-down of the business," chair of Air America Media, Charlie Kireker, wrote in an announcement.
Air America is bankrupt, and this time it looks like it will be for good.
The liberal talk-radio network, founded in 2004 to serve as a counterbalance to the likes of Rush Limbaugh and Fox News, is shutting down all operations and filing for Chapter 7. "[O]ur painstaking search for new investors has come close several times right up into this week, but ultimately fell short of success," wrote Air American Media chairman Charlie Kireker in a company-wide memo to employees. "[O]ur company cannot escape the laws of economics. So we intend a rapid, orderly closure over the next few days."
I am loving this week. First Brown, then SCOTUS' decision, and now Air America. Once again I wish I had balls so I could dip 'em!
How could I not link to a title that funny?
Yes, it IS a difficult market. That's what progressivism does - make markets difficult. But you have to start with a sound business model, and know what business you're in from the beginning.
Progressive policy is progressive policy, whether it comes from a Democrat or a Republican. If you believe the last 20 years in this country has been anything other than ever-increasing progressive-statism, you're simply nuts! Try reading an economics book for a change.
Air America might have made it in a free market, but now Air America is dead ... Should we hold our breath until the Air America crowd starts demanding regulation?