NEW YORK (CNNMoney.com) -- Liberal talk radio network Air America is planning to file for Chapter 7* bankruptcy, the company said Thursday.
The very difficult economic environment has had a significant impact on Air America's business," according to a statement on the network's Web site. It cited a "perfect storm" in the media industry and plummeting advertising revenues.Air America, of course, was the Chicago-based lefty talk "network" underwritten by wealthy Marxists to drive Rush Limbaugh, Sean Hannity, Mark Levin, and others off the airwaves with their superior "progressive" (read "Communist") material. "Personalities" included the odious Rachel Maddow (who graduated to the odious MSBNC) and the odious Al Franken (who, along with his Stalinist Democrat minions, counted ballots again and again in Minnesota until he stole "won" a senate seat there in 2008-9).
Needless to say, their nonstop propaganda fests never attracted a real audience and never came close to unseating Rush et. al. Money quickly dried up and affiliates dropped their money losing garbage-casts as quickly as they'd picked them up. The "network" was in trouble within months and was never much of a presence.
Marxists who hate capitalism with all their hearts--even rich ones (most of them)--don't seem to have much of a grasp as to how the system works and how competitive it is. It never occurred to them that with nearly 100% of newspapers, nearly 100% of TV newscasts, and a bucketload of bloggers preaching the same left-wing class struggle tripe 24/7 throughout the US, there was no need for left-wing talk radio.
Rush and company survive and prosper because they were (and still are) providing a uniquely valuable service available nowhere else. They were and still are competing against precisely no one, whereas lefties totally dominate the other media. Hence, zero need for more left-wing propaganda. Their economic model, such as it was, failed utterly for this obvious reason.
The statement went on to say that the company's debt was piling up as its credit lines shrank....Starting at 6 p.m. ET Thursday, Air America will broadcast "encore programming" though Jan. 25 and then cease to air.Good riddance. Besides, if you want to hear this vapid crap, you can always catch Maddow being her hateful self every weeknight on MSNBC. And Minnesotans can catch Franken any time they want on C-Span. And then kick themselves for putting this hate-filled dope in the Senate to represent them for the next 6 years. What were they thinking?
*Chapter 7, for those who aren't bankruptcy aficionados, is "liquidation," not reorganization. As John McLaughlin says, "Bye-bye!"