CommonSense Media Files For Bankruptcy

NEW YORK -- CommonSense Media, a digital advertising network co-founded by film producer and Firedoglake publisher Jane Hamsher, has filed for bankruptcy to liquidate its assets.

Founded in 2007 by Hamsher, AJ Schuler and Deveria Flowers, CommonSense Media describes itself as “a digital alliance of publishers and advertisers who are shaping the future of digital advertising in the political space.”

CommonSense Media's Chapter 7 filing earlier this month in U.S. Bankruptcy Court in Washington, D.C., lists many prominent news sites and blogs among its 48 creditors. (A portion of the document, obtained in a public records search, is below.) Chapter 7 bankruptcy proceedings allow companies to liquidate assets while being protected from creditors.

Hamsher is known as a leading figure in the progressive blogopshere and left-leaning pundit. CommonSense Media's creditors, however, span the political spectrum and include Daily Kos, Raw Story, AlterNet, Talking Points Memo, MyDD, The New Republic, Crooks and Liars, The Drudge Report, National Review Online, RedState Human Events Eagle Publishing, Town Hall Salem Communications , Five Thirty Eight, The Hill, CQ-Roll Call, Taylor Marsh, John Aravosis (AMERICAblog) and Duncan Black (Eschaton).

Hamsher signed the bankruptcy filing, dated March 18, as "debtor" and is listed in a related document as "president." The company's name on its site is "CommonSense Media." The court filing refers to "Common Sense Media, LLC."

Hamsher is also listed among the 48 creditors, along with “Firedoglake” and “Fire Dog Lake." Jeff Cosgrove, who was described as managing director of CommonSense Media in a 2011 article, is listed as a creditor as well.

Hamsher, reached by phone, referred The Huffington Post to her attorney, Warren Gorman, who declined to comment.

Bryan Ross, the Chapter 7 bankruptcy trustee for Common Sense Media, told The Huffington Post he recently met with Hamsher and has scheduled a meeting of creditors on April 11. Ross said his role is to ascertain what assets CommonSense Media owns in order to determine possible payments to creditors. Ross said the company had about $8,500 in a bank account and $17,000 in accounts receivable.

This article was updated with additional information with respect to the founding of CommonSense Media.