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Air America Crashes Into Chapter 11

Law360 (October 13, 2006, 12:00 AM EDT) -- Air America Radio, the left’s answer to Rush Limbaugh and other right-wing radio personalities, has filed for bankruptcy protection after only two and a half years of existence.

The company, also known as Piquant LLC, has lost over $41 million since it first went on the air in March 2004, according to court documents filed with the U.S. Bankruptcy Court in Manhattan.

However, the radio station said it expected to continue operating during its Chapter 11 proceedings. It also said it would seek court permission for...
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