$SAVIOR: Stephen Green (above) of SL Green is throwing a lifeline to financially challenged Air America, the liberal talk-radio network.
Posted on 01/30/2007 3:28:38 AM PST by Liz
$SAVIOR: Stephen Green (above) of SL Green is throwing a lifeline to financially challenged Air America, the liberal talk-radio network.
Liberal talk-radio network Air America has been saved - again. The bankrupt broadcasting company said that Stephen Green, founder of Manhattan real estate behemoth SL Green Realty Corp. and the brother of New York Democratic Party figure Mark Green, signed a letter of intent to acquire its assets. Air America also said popular host Al Franken would be leaving after his Valentine's Day broadcast.
"Affiliates are just scared to death of Air America now," said radio broker Frank Boyle, citing the network's past history of missed payments and financial problems......affiliates can dump programming at any time and for any reason - as they have with Air America in the past.
Green mentions three things he'll do to ensure the network's success: stabilize finances, hire talent, and form a partnership with other platforms beyond radio to reach a wide audience. Air America listed $4.3 million in assets and $20 million in debt when it filed for bankruptcy in October 2006, a little more than two years after its launch. Some of its more prominent investors include Real Networks CEO Rob Glaser, who is personally owed just under $10 million.
(Excerpt) Read more at nypost.com ...
N-i-i-c-e take---as I posted above---this shrewdie is probably looking for a loss for tax purposes; AA is a good Enron-type vehicle for stashing assets that would otherwise be taxed.
"It cannot stand on its own merits because it's message is not supported by facts."
It SERVES it's purpose, and FACTS have nothing to do with it......
It's a Propoganda outlet, a sort of Moonbat Central for the craziest of the loons to get today's marching orders.
And as such, carries tremendous value in getting "the Message" (whatever that may be) out to the troops.
I always wondered how Mark Green, that talentless toad, managed to rise to such a position of prominence. This explains a lot.
Is he also buying their debts?
No intelligent investor does that. Why lose millions so you can save hundreds of thousands in taxes?
But just how in the hell does a fool ever get together with money in the first place?
You pretty much hit the nail on the head with that post. Facts don't matter to a left winged clown. The listenership of that network are nothing but a bunch of mindless socialists.
My guess would be he inherited it.
LOL----"multimillionaire liberals have that look of stoic malevolence."
To name a few ways this shrewdie will employ to profit himself on this loser (just off the top of my head): creative accounting, offshore bank accounts, wire transfers, misusing reserve bank accounts, concealing transfers to and from AA, inflating AA asset values, improperly accounting for financial transactions, and so on.
IOW, a little more of the same.
It's sort of like PBS with only one donor getting the canvas tote and coffee mug.
Well, this just pops into my head; if Green had the dealings in mind that you mention, he could accomplish them with far less publicity and scrutiny. This deal is an attention-getter. Furthermore, it's a PARTISAN attention-getter. It makes Green a target of sorts. When you want to indulge in financial legerdemain, you want it as quiet as possible, making as few enemies as possible. So there must be more to it.
Maybe the Wall Street Journal will enlighten us.
Franken keaving? I wonder where his next hilarious gig will be.
Franken is running for the US Senate, no?
Sure, and he has the map of Hades all over his face!
They might get some listeners if they put on Dr. Demento.
Oh please---very few people would suspect wrongdoing to the extent outlined---Green will rev up the PR spin at Mach One speed to cover his tracks.
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