Free Fall Radio: Air America Goes Bankrupt

Liberal network lists $20.2 million in debts, assets of $4.3 million

OCTOBER 13--Air America Radio today filed for bankruptcy, listing liabilities in excess of $20 million and assets of only $4 million. The Chapter 11 filing by Piquant LLC, the radio network's parent company, was made in U.S. District Court in Manhattan. The list of Air America's creditors runs 25 pages, and includes on-air personalities like Al Franken ($360,749.98) and Chuck D ($10,749.99), as well as law firms, landlords, limousine firms, and a variety of other businesses. The company's single largest creditor is Rob Glaser, founder of RealNetworks, who is owed $9.8 million, according to the bankruptcy petition. Below you will find an excerpt of the court filing showing all Air America debtors. (26 pages)

Join TSG's mailing list.

E-mail story to a friend.