Air America Radio will lose its New York flagship station, WLIB-AM, on Aug. 31. While the left-leaning radio network’s original lease for the Inner City station ran out March 31, AAR managed to get an extension which only lasts until Aug. 31, according to an informed source. Through an agreement with ICBC, WLIB will be operated as a joint venture and programmed by P1, a company run by former Clear Channel and Jacor Communications executive Randy Michaels. Michaels is expected to program a progressive-talk format, but replace AAR’s network programming with more local programming. A likely addition to the new...