Air America, the long-suffering progressive talk radio network, abruptly shut down on Thursday, bowing to what it called a “very difficult economic environment.”

The chairman of Air America Media, Charlie Kireker, said in a statement that the company would file under Chapter 7 bankruptcy “to carry out an orderly winding-down of the business.”

In a troubled time for advertising-driven media businesses, “our painstaking search for new investors has come close several times right up into this week but ultimately fell short of success,” Mr. Kireker said.

read full article: Air America, the Talk Radio Network, Will Go Off the Air
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Media Businesses : Air America, the Talk Radio Network, Will Go Off the Air