In another hit to the ever-shrinking journalism industry, Air America Media announced today that it will be ceasing live programming just about immediately. Today is the last day the network will be paying its employees, and will be filing for bankruptcy "soon."
A message on the progressive radio program's Web site (indeed the only content available now on its Web site) cited lagging radio ad revenues for 10 consecutive quarters as the reason for the endeavor's financial demise. "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." The organization's staff received the same memo this afternoon signed by Air America Media's chair, Charlie Kireker.
The radio station that formerly housed Sen. Al Franken and Rachel Maddow will continue providing its affiliates with "encore" programming -- a euphemism for old shows -- until Monday. Then -- kaput.
Cue right-wing gloating in five, four, three (silently while making hand signals) two, one ...