Politico: ‘Air America Declaring Bankruptcy’
“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,” wrote the company’s chairman, Charlie Kireker, in a memo to staff, forwarded to reporters by a spokeswoman for the radio network.
Kireker cited economic, not political, tides.
“Those companies that remain are facing audience fragmentation as a result of new media technologies, are often saddled with crushing debt, and have generally found it difficult to obtain operating or investment capital from traditional sources of funding. In this climate, our painstaking search for new investors has come close several times right up into this week, but ultimately fell short of success,” he wrote.
I know I’m a day late on this. I’m also a day late and dollar short on the Citizen’s United decision. Both have been more than adequately covered across the Internet, so I’m not worried about timeliness. Instead, there are certain points which need to be made.
The bankruptcy of Air America has little to do with economic tides, despite assertions from the liberal apologists. Sure, the economic climate is poor for just about everyone, but there’s more to it than that. And it wasn’t necessarily political tides in the sense of those dismissed by the lefties, either. Air America was felled by a bankruptcy of ideas.
There’s a reason why Bill Clinton, faced with the failure of his own attempt at health care reform, came to the center for the rest of his presidency. There’s a reason, too, why the Democrats currently running things on Capitol Hill have to meet behind closed doors, dodge questions and keep their spin machines on overdrive. True liberal ideas only appeal to true believers. They don’t work in the real world. They defy common sense.
From the beginning, Air America was the media equivalent of a restaurant which only serves deep-fried insects. Sure, there are people who swear by crunchy mealworms and caterpillars and such. I’ve even heard that certain bugs taste good (I ain’t trying any of it for myself, though). The problem, though, is that the vast majority of people won’t try it out in the first place, and if they do many will be turned away by the bitter, nasty taste left in their mouths.
In the end, it was a little of everything which, augmented by the bankruptcy of liberal ideas, caused the downfall of Air America. On the political front, it doesn’t take a resident of Massachusetts to see that things are changing, that the idea of government-as-panacea has fallen into disfavor. On the economic front, we can see how left-leaning newspapers which have eroded the line between their front pages and op-ed sections have seen declining circulation numbers, while talk radio and conservative Internet destinations are prospering.
Of course, we can’t expect the folks at Air America to grasp reality, because liberals don’t deal too well with reality. The only question now is whether a White House and Democratic Party establishment hungry for another outlet for their agenda will fight to bail them out.