Air America Media, the radio station with liberal-leaning programming, filed for bankruptcy to liquidate after a drop in advertising sales.
The Chapter 7 petition filed in U.S. Bankruptcy Court in Manhattan yesterday listed assets of $1.5 million and debt of $17.2 million. The company said in January that it ceased operations and would file for bankruptcy after an industrywide drop in advertising sales.
Thursday, February 04, 2010
Air America Files for Chapter 7 Liquidation After Sales Drop
Bloomberg reports:
