Air America Chapter 11 Fallout

16 October 2006 | Business | Ernesto Aguilar

Air America will be able to continue broadcasting under its Chapter 11 bankruptcy filing as it seeks to put its financial house in order. The Talk Radio network’s CEO Scott Elberg commented, “No one likes to file for bankruptcy,” but “this move will allow us to concentrate on informing and entertaining our audience during the coming months”

According to its bankruptcy petition, Air America has a list of creditors that’s 25 pages long. It includes Air America personalities Al Franken, who’s owed $360,749.98, and Chuck D, awaiting $10,749.99.

Also owed money are various landlords, law firms, limo operators and other businesses.

The company’s single largest creditor is RealNetworks founder Rob Glaser, who is owed $9.8 million.

Source: RadioInk

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