Where was that Air America bankruptcy that "Think Progress" promised?

[bluestateguy]

Friday came and went and it never happened. A few layoffs, but no bankruptcy. Looks like Think Progress has some apologizing to do.

[Donnachaidh]

1. I agree -- they started a real firestorm of nonsense for AAR

An apology should be demanded.

[KharmaTrain]

2. I Didn't See Any Promise...

They were just reporting a rumor that was flying around the radio industry. This story was in Inside Radio which is where Think Progress picked it up from.

AAR is having financial troubles...so are many other radio companies right now. ABC just let Sean Hannity go...and have fired dozens of long-time employees in recent months. Advertising revenues have hit the skids and long term debt keep growing. AAR was able to dodge the bullet this time, but sadly I expect there will be another.

[Solo_in_MD]

6. This time...

AAR is clearly struggling. The commerical ratio has certainly gotten worse and their ratings are stagnant. I hope they survive, but it does not look the least bit promising

[Armstead]

7. ABC Fired Hannity?????!!!!!!

That true? If so couldn;t happen to a nicer guy.

[Javaman]

8. hope so...

[maddezmom]

3. here is the follow-up

Franken: Air America Not Filing For Bankruptcy Today
Inside Radio reports:

Despite reports the liberal talk network would file for bankruptcy protection by week’s end — that apparently isn’t happening. Franken tells listeners “we’re not in Chapter 11″ and pokes at conservative talk hosts and websites for getting it wrong with quips like “who’s gloating now Bill O’Reilly?” We still believe it’s a tough economic situation at the libnet — and several staffers have been laid-off.

On Wednesday, ThinkProgress reported “Air America Radio will announce a major restructuring on Friday, which is expected to include a bankruptcy filing.” We made a judgment that our sources were knowledgeable and reliable. We regret the error.

We wish Air America a long and successful future.
http://thinkprogress.org/2006/09/15/franken-no-bankruptcy/

[Freddie Stubbs]

4. Perhaps it will happen in 24 business hours

;)

[KittyWampus]

5. I KNEW that was coming!

and I'll say it even made me laugh out loud :D