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Article: Liberal talk radio network Air America seeks Chapter 11 protection, will continue to operate

Article from:
Inland Valley Daily Bulletin
Article date:
October 13, 2006
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NEW YORK - Air America Radio filed for bankruptcy reorganization Friday, in the latest patch of turbulence to befall the liberal talk radio network that launched two years ago headlined by the comedian and author Al Franken.

The network will continue to operate with funding from its investor group, led by RealNetworks Inc. CEO Robert Glaser, who owns 36.7 percent of the company, and two other former board members.

The company also named a new CEO Friday, Scott Elberg, a radio executive who joined the company in May 2005 following stints at the New York area radio station WKTU and other places.

Air America had dismissed rumors just one month ago that it was planning to file for bankruptcy ...

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