Your next Minnesota Senator?
Posted on 02/13/2007 9:03:05 PM PST by Red Steel
ASHINGTON, Feb. 12 (Dow Jones/AP) — Air America Radio, the liberal news and talk radio network, has won bankruptcy court approval to sell its assets at an auction Friday, starting with a $4.25 million bid from a consortium of purchasers formed by Stephen L. Green, the chairman of SL Green Realty of New York.
Judge Robert D. Drain of Federal Bankruptcy Court in Manhattan said on Friday that the consortium could receive a $150,000 breakup fee if its offer was topped at the auction.
Competing bids, which must start at $4.6 million, are due by Thursday with a 10 percent deposit. Bidding will increase in increments of at least $50,000. A sale hearing will be held immediately after the auction.
The proposed sale, the filing said, will enable the company to keep broadcasting.
Air America has been struggling to find a buyer since it filed for Chapter 11 protection on Oct. 13, listing assets of $7.8 million and debts of $19.8 million.
(Excerpt) Read more at nytimes.com ...
Your next Minnesota Senator?
to whom shall I write the check ?
Your next Minnesota Senator?
Hell no! That toxic twit becomes senator, I start driving around Minnesota with Texas plates. I move my articles of incorporation to Texas.
Rush should make a bid and see how many Libs have strokes.
I want Randi Rhodes' brain.
It's never been used, after all...
another bash upside the head of the socialists- good times, good times..
What assets do they have? The 4.25 Million makes no sense at all now.
Somebody received a message from the public!
Time for "Prankin' Al" Franken to go back to Harvard and write a few more lying letters to American officials.
""Rush should make a bid and see how many Libs have strokes.""
This would be pure comedy.
Winner buys out the whiners.
No it doesn't. They have a set period of time to restructure their debt/finances. Chrysler went bankrupt in the mid 70's, and as part of Diamler, is still in business today. Chapter 11 = restructure, Chapter 7 = liquidate. The Democrat party should declare Chapter 7 bankruptcy, before they inflict permanent harm on the country.
Does this mean they will now produce a new talkshow product along the lines of the K car?
Ugh, now I need brain-soap.
A conservative group needs to buy it and change its format. :D:D:D:D:D
"to whom shall I write the check ?"
If Rush had any sense of mercy, he'd buy them out with chump change and then put the old swayback out of its misery.
Who's a thunk the death throes could last so long? Or provide so much entertainment?
Can I put in a bid for Al Franken's toupee?
I've never sullied my radio listening to their prattle. But am just delighted they've met their just rewards.
As I understand it, this is a friendly auction so other lefties can buy the "assets" and keep their rubbish on the air? Its successor will meet the same fate. You just can't attract an audience with nothing but bile.
Rush should run the bidding up just for fun.
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