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Originally posted by curme
I think no one is covering (except the right-wing blog and press, like the NY Sun) it because the story has no legs. One of Air America's directors, Evan Cohen, was a jerk (a 'crook' as Al Frankin put it). Air America's current owner, Piquant LLC, didn't know anything about any loans when they took over. Even the right-wing bloggers will admit that.
A lawsuit filed by an owner of radio stations claims that the transfer of ownership of the Air America radio network from Progress Media to Piquant LLC in May 2004 was a "sham" intended to maintain the network's assets while deceiving its creditors, according to documents posted on a blog yesterday.