Thursday, September 14, 2006

Greatly Exaggerated?

Over the past year or so, Brian Maloney has been the definitive source on the scandals and intrigue at Air America, the liberal talk radio network that remains short on advertising revenue and listeners. Along with the indefatigable Michelle Malkin, Brian was the first to disclose Air America's shady deal with the Gloria Wise Boys and Girls Club, "borrowing" $800,000 from that organization to keep the network operating. As Brian reminds us, that loan has never been repaid, despite repeated promises to the contrary.

In his latest installment, Maloney offers some cautionary words about Air America's supposedly impending bankruptcy. Liberal blogs--and even some MSM sites--have been reporting that the network could file for bankruptcy protection, possibly as early as Friday. But, as Brian notes, Air America has been on the brink of insolvency before, only to be rescued by a sudden cash infusion at the last moment. That same scenario could easily happen again, since some liberals are willing to throw good money at a faltering cause. Maloney believes the bankruptcy rumors may actually be an "inside job," aimed at driving down what little value the network still has, making it easier for potential buyers to gain control of Air America, at a fire sale price. According to Brian, the network has been talking to at least two potential buyers, and its "star," Al Franken, recently signed a contract extension, despite claims that Air America is "stiffing" him. Why would Franken re-sign with a company that was on the verge of going out of business?

Paraphrasing Twain, rumors of Air America's impending demise may be greatly exaggerated.

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