Air America files for chapter 11

10/13/2006
Alex Lang
Liberal radio station files after negotiations with creditor broke down

Air America radio, a liberal radio station that hosted Al Franken's show, has filed for chapter 11 bankruptcy, a company official told the Associated Press.

A month ago the company denied it was filling for the protection, but decided to do so recently after negotiations broke down with a creditor from the company's earlier days, Air American spokesperson Jaime Horn told the AP.

Even with the filing, Horn told the wire service the radio station will remain on the air. In addition to Franken's show, it also hosts Randi Rhodes and Jerry Springer's shows.

On Friday, the company also announced the hiring of Scott Elberg as its new CEO.

"Nobody likes filing for bankruptcy," Elberg said in a statement and reported by the AP. "However, this move will enable us to concentrate on informing and entertaining our audience during the coming months."

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