Below are the people who decided to put Air America Radio into Chapter 11 of the Bankruptcy Act.
Rob Glaser-Chairman of Piquant, LLC D/B/A Air America Radio.
The rumors are true. We did offer to fund AAR and prevent this from happening. We believed that the company was very well positioned to be successful with a change in management and fundamental changes to the operation of the company. Despite our weeks of negotiations and hard work, the board chaired by Rob Glaser who is also the CEO and Chairman of RealNetworks, Inc. (RNWK:Nasdaq) and their attorney Tracy Klestadt advised the board to file a bankruptcy petition.
As founders and investors in the company, we have a significant interest in the future of AAR and will do everything possible to protect our investment in the company and its operations. We continue to support liberal talk radio with or operation of Nova M Radio, Inc. that is managing AAR affiliates in Phoenix and Little Rock. We plan to continue our efforts to make liberal talk radio a success. Stay tuned.