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January 31, 2007

Air America bought out

The financially ailing liberal radio network Air America has been bought out by investors, Variety reported Tuesday.

One result of the buyout includes the farewell of flagship host Al Franken, whose last show will be February 14. His noon to 3 p.m. (Eastern) slot will go to Thom Hartmann. While the network did not indicate the motive behind Franken's departure, Variety reported that some speculate it is to free up time for Franken's possible U.S. Senate run in Minnesota.

Stephen Green, founder of SL Green Realty, and his brother, Mark Green, struck an agreement Monday for Air America. The network filed for Chapter 11 bankruptcy in October and has sought a buyer since to rescue it. The original backers, Shelly and Anita Drobny, pulled out from financing the network and have launched the syndicated Nova M Radio. The Drobnys have admitted that their new radio project adheres more to the original vision of Air America. (The Advocate)

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