Liberal talk network Air America Radio (AAR), announced today (Oct. 13) that it has filed for Chapter 11 protection in the United States Bankruptcy Court for the Southern District of New York. The company says the action became necessary when good faith efforts to resolve outstanding debt with a creditor from the company’s earliest days broke down.
AAR says the bankruptcy filing will allow the company to continue offering its complete line-up of programming while it deals with its creditors in the reorganization proceeding.
Source: RadioandRecords.com
