Brian Maloney covers the Think Progress announcement of the bankruptcy of Air America. (We’re speaking of cash this time, in addition to that of ideas.)

Cash- starved Air America Radio is broke and up for sale, the Radio Equalizer has learned exclusively.

In addition, a liberal website is reporting that the so- called “progressive” radio network will announce a bankruptcy filing on Friday.

What our own sources are telling the Radio Equalizer is that two potential buyers have recently been looking to scoop up Air America’s assets. But internal board squabbling has created a disunited front, with some members looking to hand the network back to eccentric co- founder Sheldon Drobny, while the rest shop for buyers.

When Air America first started, I went on the record predicting that the Franken show wouldn’t last 2 years. This past April, after those 2 years had gone by, I noted that I was wrong, that indeed Franken had outlasted my prediction. I also pointed out at the time that sans the huge infusions of cash, the network would never have made it that far. It was not ratings that was keeping it alive. It was on life-support.

And now the insurance payments have stopped. Someone else might start taking care of the patient, but it looks to me like a lost cause.

And as Michelle Malkin notes, maybe, just maybe, the NY Times will get around to covering all the financial troubles and scandals that have plagued the network. Yeah, well hold not thy breath.

Update: Thanks to the trackback from, we find out that AAR is denying that it has filed for bankruptcy. They say that no decision of any kind has been made on such a move. This, of course, begs the question; are they considering it? Rumor-mongering being what it is, place no bets. But stay tuned.

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