NYP: Air America denies bankruptcy rumors

According to John Mainelli of the New York Post: "All-liberal, all-the-time Air America is denying intense rumors that the ratings-challenged radio network will declare bankruptcy this week and attempt to reorganize to stay on the air for the November elections.

A high-level source told The Post that Rob Glaser, the Real Networks founder who rescued the 2-year-old network from its first financial crisis, 'walked away last week' and took his moneybags with him.

Earlier this week, as first reported in The Post, Air America laid off six people and shuffled its on-air lineup - including deleting Jerry Springer and returning him to independent syndication.
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Late yesterday, Air America spokeswoman Jaime Horn denied rumors of doom."