From the ArcaMax Publishing, Business News Newsletter:
http://www.arcamax.com/news/businessnews/s-157426-867634
NEW YORK (UPI) -- A suburban New York TV station owner is negotiating
to buy bankrupt Air America Radio, the politically liberal radio
network, a published report says.
Dick French, owner of news-talk WRNN-TV in Kingston, N.Y., is leading
a group of investors who may buy Air America parent Piquant LLC out of
bankruptcy, The Journal News reported Friday.
There is no guarantee the talks will result in a deal, the newspaper
said, citing a source close to the talks.
Any deal would have to be approved by a bankruptcy judge.
French's son Richard, a former director of the state Democratic Party,
hosts a nightly show called "Richard French Live."
Piquant of New York filed for Chapter 11 protection from creditors in
October. It listed $7.8 million in assets and nearly $20 million in
short-term liabilities. It listed a 2006 loss of $13 million and a
2005 loss of $19.6 million.
WRNN and Air America spokesmen declined to comment.
Air America is heard on 92 affiliates, reaching 58 percent of the
country, as well as XM satellite radio.