The official press release on the Air America website reads:
"It is with the greatest regret, on behalf of our Board, that we must announce that Air America Media is ceasing its live programming operations as of this afternoon, and that the Company will file soon under Chapter 7 of the Bankruptcy Code to carry out an orderly winding-down of the business."
Air America Radio launched in April, 2004 with comedian Al Franken, who later became a Senator (I'm still waiting for the punchline Al!) and Rachel Maddow who went on to become one of the stars of the MSNBC political commentary line up.
Franken stopped broadcasting for Air America in 2007 after he announced he was seeking nomination to the Senate.
All current employees of Air America will be paid through January 21.
A severance package will be offered today January 22nd, to full-time current employees with more than six months of tenure.
Starting at 6 pm EST today, Air America will provide there affiliates, listeners and users a selection of encore programming until 9 pm EST on Monday, January 25, at which time all Air America programming ends.
How long until Maddow and Franken join forces reopen the company?
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