Air America, abruptly shut down on Thursday, due to what it called a “very difficult economic environment.”
Charlie Kireker, The chairman of Air America Media, said in a statement that the company would file under Chapter 7 bankruptcy “to carry out an orderly winding-down of the business.”
“Our painstaking search for new investors has come close several times right up into this week but ultimately fell short of success,” Mr. Kireker said.
The closing did not come as a surprise. Air America, which began six years ago and has 100 affiliated stations, cycled through a number of owners and never found its financial footing. It first filed for bankruptcy protection in 2006 but managed to stay on the air.
“The fact of the matter was, it was always a very challenging business proposition, and it never had the right management,” said Sam Seder, who hosted programs on Air America until last year.
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