BREAKING Air America: No More Live Programming Filing Chapter 7

We just received this memo:

From: Charlie Kireker

Date: January 21, 2010 4:36:59 PM EST

To: All

Subject: Air America Operations

It is with the greatest regret, on behalf of our Board, that we must announce that Air America Media is ceasing its live programming operations as of this afternoon, and that the Company will file soon under Chapter 7 of the Bankruptcy Code to carry out an orderly winding-down of the business.

The very difficult economic environment has had a significant impact on Air America’s business.

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