Tuesday, October 31, 2006

Air America turkey of a sale before Turkey Day?

Well, Air America may have new owners before Thanksgiving, so says Business Week.

Air America Radio is talking to several parties about a possible sale and is hopeful of reaching a deal before Thanksgiving, a lawyer for the liberal talk radio network told a bankruptcy hearing Tuesday.

Tracy Klestadt told the court that the privately-held company was in discussions with seven different parties about a sale and was "very hopeful" of reaching a deal by Nov. 22, saying there was a "significant amount of interest."

The network, which went on the air with much fanfare two years ago, filed for bankruptcy protection on Oct. 13 after discussions with one of its creditors reached an impasse.

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