Air America Files for Bankruptcy, Vanishes; Regular America Still Here for Now

Oh my God! I find this news absolutely shocking!

Air America announced [yesterday] that it's declaring bankruptcy and ceasing its live broadcasts immediately. Here's the statement posted on Air America's website:

"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."

I had no idea that Air America was still on the air. This is a huge surprise.