Air America Radio Closes, Will File for Bankruptcy

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Air America Radio is shutting down its operations.

Launched in April 2004, Air America was billed as the liberal alternative to right-wing radio. A statement on the company Web site explains the decision: "This past year has seen a 'perfect storm' in the media industry generally. National and local advertising revenues have fallen drastically, causing many media companies nationwide to fold or seek bankruptcy protection."

The station, based in New York, was carried by some 100 radio outlets nationwide and featured well-known personalities like Al Franken, Rachel Maddow, Chuck D, Steve Earle, Randi Rhodes, and Arianna Huffington.

As of 6 p.m. this evening, Air America will no longer carry live programming. On January 25, it will officially go off the air. The company plans to liquidate under Chapter 7 bankruptcy.

"So we intend a rapid, orderly closure over the next few days," the online statement says.