Air America Bankruptcy Rumors: A Trick To Depress Takeover Price?
That may be the case, says the Radio Equalizer, who thinks Think Progress may have been taken for a ride:
After consulting with those in the know and considering all of the facts at hand, your Radio Equalizer has come to this conclusion, which can fairly be called an educated guess: an internal faction that is attempting to gain (or regain) control of the network “leaked” this “news” to a major liberal blog site (knowing it would be taken seriously there) so as to immediately depress Air America’s value.
With the liberal radio network now worth mere pennies, this shady group can ride to the rescue, immediately imposing its will on what remains of the operation and locking out potential outside buyers.
The plan would have worked, except for the fact that Air America’s “bankruptcy” generated so much attention that creditors and potential advertisers are now very, very spooked. Did it destroy what was left of the business?
File this one under “to be continued”…
If it’s all for “show”, it’s a fabulous show. Air America has stopped paying for news wire service and has allegedly stiffed employees for their paychecks including Al Franken.
Pull the band-aid off already.
According to this, the rumors aren’t true. AA is just firing a bunch of people. Those evil corporate weasels. How could they! Don’t they know their employees have children to feed?