(Newser)
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Tough week for the left: First, Ted Kennedy's seat goes Republican, and now Air America has gone bust. The liberal radio network will stop live broadcasts as of 6pm EST today. It will feed affiliates reruns through Monday, then cease operations altogether after 6 years. Air America, which gave a home to Al Franken and a then-unknown Rachel Maddow, says it's filing for Chapter 7 bankruptcy.
"The very difficult economic environment has had a significant impact on Air America's business," says a company statement. It adds: "Through some 100 radio outlets nationwide, Air America helped build a new sense of purpose and determination among American progressives. With this revival, the progressive movement made major gains in the 2006 mid-term elections and, more recently, in the election of President Barack Obama and a strongly Democratic Congress."
