Air America Radio's Bankruptcy
Ezra Klein and Marc Cooper discuss Air America Radio's filing for bankruptcy this week.
Marc thinks AAR will stay on the air until just after the elections. Ezra thinks it failed because it tried to copy the conservative framework.
I don't know anything about radio, and just a little about corporations that do debt restructuring in bankruptcy to stay alive. Think of all the airlines that have done so. I always thought a company that filed under Chapter 11 restructuring provisions did so because it planned to stay in business and was trying to repay its debts at its own pace as it reduced its costs rather than buckling under to a creditor who wanted money right now. Indeed, the Washington Post says,
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