After Just A Year, Air America CEO Goldberg Out
Exclusive To The Radio Equalizer
By Brian MaloneyAfter just over a year at the helm of financially troubled liberal radio network Air America, CEO Danny Goldberg is on his way out. Still unclear is who, if anyone, will replace him as top dog.
The changes take effect Friday, April 7, according to an internal source.
Goldberg, a former record label executive overseeing rap, hip hop and pop acts, joined the ailing network in early 2005.
He's also a partisan activist and lefty book author, contributing to many ultra-liberal politicians such as embattled Congresswoman Cynthia McKinney (D-GA).
While exiting day-to-day operations at Air America, Goldberg will continue in a minor, contractually-based role, working one day a week from home. Through the end of 2006, he'll be paid $400,000 on an annualized basis for his temporary role as "Vice-Chair".
In addition, he'll receive $400,000 in deferred compensation covering 2005, $100,000 to cover 2006 travel and entertainment, plus ongoing clerical support. An initial share award representing 2% of the company will now become fully vested.
On a light note, if the company makes a profit in 2006 or 2007, Goldberg will be entitled to a share. And if the Radio Equalizer buys a lottery ticket with the winning numbers, we'll be entitled to a cash jackpot!Until now, Goldberg was working under a contract with a 2010 expiry date, while its replacement runs out December 31.
In his new, hazily defined role as "progressive liason", he'll work out of Los Angeles during the summer. Air America is also expected to cover his costs for this "project".
Given the emerging details of Goldberg's new agreement with Air America, the Radio Equalizer wonders: will Danny merely serve as a paid partisan activist during an election year? This further reinforces Bill O'Reilly's theory that Air America is a political organization thinly disguised as a for-profit corporation.
So what happened? As Air America's financial situation has become increasingly precarious, relying on cash infusions from Real Networks CEO Rob Glaser, joined by Democracy Alliance contributors George Soros and Peter Lewis, management tensions have run high.
Recently, staffers have noted increasingly ugly conflicts between company "suits", especially between Goldberg and COO Carl Ginsburg. On several occasions, this executive-level row was apparent even during staff meetings. Until now, it wasn't clear who would survive the battle of the egos, but the latter has today emerged victorious.
Within the talk radio industry, we've long felt Goldberg was resented. Nobody likes a record peddler telling experienced insiders how the medium should sound.What's next? Watch for the company to engage in more spin, as the Radio Equalizer again brings forward Air America's true state of affairs. For this announcement, a particular amount of effort has gone into planning a media strategy.
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Graphics: David A Lunde for the Radio Equalizer. Visit his site today!
