What you'll see if you go to airamerica.com today:
It is with the greatest regret, on behalf of our Board, that we must
announce that Air America Media is ceasing its live programming
operations as of this afternoon, and that the Company will file soon
under Chapter 7 of the Bankruptcy Code to carry out an orderly
winding-down of the business.
The very difficult economic environment has had a significant impact
on Air America's business. This past year has seen a "perfect storm" in
the media industry generally. National and local advertising revenues
have fallen drastically, causing many media companies nationwide to
fold or seek bankruptcy protection. From large to small, recent
bankruptcies like Citadel Broadcasting and closures like that of the
industry's long-time trade publication Radio and Records have signaled
that these are very difficult and rapidly changing times.
Those companies that remain are facing audience fragmentation as a
result of new media technologies, are often saddled with crushing debt,
and have generally found it difficult to obtain operating or investment
capital from traditional sources of funding. In this climate, our
painstaking search for new investors has come close several times right
up into this week, but ultimately fell short of success.
With radio industry ad revenues down for 10 consecutive quarters, and
reportedly off 21% in 2009, signs of improvement have consisted of
hoping things will be less bad. And though Internet/new media revenues
are projected to grow, our expanding online efforts face the same
monetization and profitability challenges in the short term confronting
the Web operations of most media companies
When Air America Radio launched in April, 2004 with already-known
personalities like Al Franken and then-unknown future stars like Rachel
Maddow, it was the only full-time progressive voice in the mainstream
broadcast media world. At a critical time in our nation's history —
when dissent on issues such as the Iraq war were often denounced as
"un-American" — Air America and its talented team helped millions of
Americans remember the importance of compelling discussion about the
most pivotal events and decisions of our generation.
Through some 100 radio outlets nationwide, Air America helped build a
new sense of purpose and determination among American progressives.
With this revival, the progressive movement made major gains in the
2006 mid-term elections and, more recently, in the election of
President Barack Obama and a strongly Democratic Congress.
Laws have changed for the better thanks to this revival.....but all
the same our company cannot escape the laws of economics. So we intend
a rapid, orderly closure over the next few days. All current employees
will be paid through today, January 21. A severance package will be
offered tomorrow to full-time current employees with more than six
months of tenure.
We will strive to assist affiliates and partners in achieving a
smooth transition. Starting at 6 pm EST today, we will provide our
affiliates, listeners and users a selection of encore programming until
9 pm EST on Monday, January 25, at which time Air America programming
will end.
We are proud that Air America's mission lives on through the words
and actions of so many former radio hosts who are active today in
progressive causes and media nationwide. In the years ahead, as we look
back, we should all be proud of our passionate determination to assure
that our nation's progressive voice would be heard loud and clear.
Through the hard work and dedication of current staff, and those who
preceded you, a lasting legacy was forged which will now continue
through other voices and venues.
Thank you.
Of course, some of the first responses to this that I heard were from bastions of the conservative media (and yes, most media is very conservative, despite the insistence from the Rush Limbaughs of the...well, of the media, that it's actually the liberals who control the media) saying that this is because America is turning away from liberal thought. They've seen what contemporary liberalism has to offer, and they've decided that it's wrong. Do I agree with this? Absolutely not. Air America has been within a breath of bankruptcy ever since I've known that they were on the air. And with Al Franken and Rachel Maddow gone, I imagine that they lost quite a few listeners. They're just another very unfortunate casualty of the shitty economic climate.
I am sad. But I take comfort in the fact that I'm about to go home and watch
The Rachel Maddow Show on MSNBC.
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