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Here is the drearily forced-humor "explanation" from their website:

The Sludge Report

After just two weeks on the air, Air America Radio, the fledgling liberal talk-radio network featuring Al Franken, Janeane Garofalo, and that really loud woman from Florida, appears to have encountered serious cash-flow problems.

Stop the presses!!! There’s nothing more exciting than half a story from a third hand source!!!!

Insiders tell SLUDGE, that the reason the network was pulled off the air this morning in Chicago and Los Angeles, the network's second- and third-largest markets, was because, the owner of both stations, Arthur Liu of Multicultural Broadcasting, said, the network bounced a check and owes him more than $1 million! The run-on sentence, tortured grammar and the exclamation point clearly means it’s true!!

Only it isn’t.

Normally we’d let this go because “habitual liars” like Drudge are laughable, and ridicule is our business.

But Arthur Liu --- not funny. He lied to us, he ripped us off and now we’re chasing him down with a pipe wrench. It’s a metaphor.

Here’s what really happened:

This Liu-ser was ripping off our boss Evan Cohen big time (he can’t do that, that’s our job). Evan found out about it and he stopped payment on a check to keep Liu-cifer from ripping him off even more. You can touch Evan for the occasional meal or drinks but a million bucks is crossing the line. And if we ever get low on cash, we can always call Barbra Streisand. Or any of the
Baldwins. Except Stephen.

So we got screwed, Liu’d, and tattooed. How Liu can you get? In Liu of payment. Liu’d and lascivious behavior. These write themselves. What we’re getting at is that we hate him.

So now everyone’s saying we’re going down the dumper in Chicago and Los Angeles, but what they don’t tell you is that we’re still on in Portland. And we OWN Portland. And let’s not forget Riverside and Plattsburgh. And New
York. And streaming on the internet. And XM. And Sirius. Actually we’re fine.

So cool your jets. Air America Radio isn’t dead, we’re in court and we’re going to slam Liu’s head in a car door. Another metaphor. We hope to be back on the air tomorrow or the next day in those markets.

In the meantime, why don’t you give Arthur a call at (212)966-1059.

Arthur Liu, I wouldn’t show your face around here.

Or Riverside. Or Plattsburgh.

DEVELOPING……

Wow! A mature, rational, well reasoned and thought out response... oh wait just more vitriolic mocking rants! Oi Vey!

After reading that article, the third paragraph was the only part of their story that spoke of truth. The rest of the article was a bunch of typical leftist garbage.

About that SLUDGE REPORT story...this sounds like so many high school giddy kids. Posts on DU...same thing. Ignorance run amuck.

Whoa.

This is a rebuttal? "We hate him and we're making fun of his name?" Whose eight-year-old wrote it?