Jan 30, 2007
In the news item of the day the alleged liberal media should be crowing about if that were actually true, Air America Radio announced yesterday in a press release it has “signed a letter of intent to sell its business to SLG Radio LLC, an entity controlled by Stephen L. Green, the founder and chairman of SL Green Realty Corp. (NYSE: SLGPRC) The sale will be accomplished pursuant to section 363 of the United States Bankruptcy Code, and is expected to close by mid-February.”
SLGreen Realty Corp. has been the most profitable office REIT in the country based on a total return to share holders, controlling 27 million square feet of commercial property largely in Manhattan and with a market cap of over $12 billion.
"Because I'm a businessman who enjoys creating and growing companies, I'm purchasing a majority ownership in Air America with the intention of making it a successful business that returns a profit,” said Stephen Green. “To assure that AAR survives and thrives, we'll do three things. First, we'll stabilize its finances. Second, we'll build on its line-up to assure the best radio talent possible, since in the long run content is king. And third, we'll extend this special brand by partnering with other platforms beyond radio to make sure that Air America's content reaches the wide audience it deserves."
"Having been involved on both sides of the microphone at Air America, I understand its huge potential as a voice for progressive patriotism,” said Mark Green. “And with the Democratic take-over of the 110th Congress and prospects in the next presidential election, it's the perfect time for Air America 2.0. If progressive values were a stock, now is the time to buy."
Air America, which does business as Piquant, LLC and is headquartered in New York City, currently produces 19 hours of original programming a day and is heard on 81 affiliates reaching 54 percent of the country. Air America affiliates reach 1.9 million listeners per week, Mon-Sun 6am-12m.
How many times did bill o and sean hatey announced the death of Air America Radio, yet they chose to ignore this story?
The network also announced that Al Franken will leave the station on Feb. 14 to consider a run for U.S. Senate in his home state of Minnesota. He will be replaced by popular fill in host and author Thom Hartmann. I hate to see him go because he’s funny and informative, but I have discovered lots of other liberal hosts that are also very good.
A great line-up would be Stephanie Miller in the morning, Ed Schultz in the afternoon and Rachel Maddow in the evening.