According to http://news.radio-online.com
Air America Radio has received a one-week extension to find a buyer. Company attorney Tracy Klestadt told a bankruptcy hearing today that the liberal talk network was in "advanced negotiations with a few parties" about a sale. AAR filed for Chapter 11 bankruptcy protection last month after discussions with one of its creditors reached an impasse.
Under its financing agreement, the company had until Wednesday, November 22 to find a buyer, but Klestadt told the court that AAR's lender had informally agreed to extend the deadline by a week. He declined to say who the potential buyers are. Even so, the netw
ork has managed to remained on the air. (11-20-06)
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Posted by djsource1
at 8:23 PM PST
