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.