[BC] AFTER BANKRUPTCY FILING, RECRIMINATIONS FLY AT AIR AMERICA

[Harold Hallikainen]

>From Benton Communications Related Headlines (http://www.benton.org)


AFTER BANKRUPTCY FILING, RECRIMINATIONS FLY AT AIR AMERICA
[SOURCE: New York Times, AUTHOR: Elizabeth Jensen & Lia Miller]
At Air America, business and politics always mixed, and that was the
problem, critics contend. Begun with an onslaught of publicity in
spring 2004 as an alternative to right-wing talk radio, the network
is given some of the credit by its supporters for having helped
achieve the Democrats' Congressional election victory in November.
Detractors label the liberal network's programming as combative,
one-note and emotional. At least its business dealings seem to fit
that last description. Even before Air America and its corporate
parent, Piquant L.L.C., sought bankruptcy protection on Oct. 13, its
management was engulfed in a series of financial crises. The search
for new investors and managers has been marred by infighting among
those who want the network to succeed. In recent weeks, Air America,
which has its headquarters in New York and reaches about 2.4 million
listeners weekly, has suffered the defection of a handful of its more
than 80 affiliated stations and soon faces the likely departure of
its most visible host, Al Franken, even as it cobbles together a plan
to emerge from Chapter 11. A possible solution surfaced on Friday.
Douglas Kreeger, an initial investor and former chief executive who
stabilized the network in its early months, said in a telephone
interview that there is "a signed letter of intent" for a new group
to take over the network and that he is "likely" to be a part. The
lead equity position would be taken by Terence F. Kelly, of Madison,
Wis., also an Air America investor from the beginning and a former
board chairman.
http://www.nytimes.com/2006/12/18/business/media/18air.html
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