CONFIRMED AND OFFICIAL: Air America Stays, Franken Goes

Air America has a buyer, and Al Franken has his hall pass out of the building. Both were confirmed earlier this morning.

The buyer for Air America comes out of nowhere. Forget the French family. That one fell through, just like all the rest. According to a story broken first in the Huffington Post, it's Stephen L. Green, another of many Manhattan real estate tycoons. (We're all in the wrong businesses, but that's another story.) This is confirmed by reliable sources deep inside Air America Radio, and my sources are further confirmed by an official release from the AAR press department, as quoted on Radio and Records.

It's legit.

Franken's adieu was easier to confirm. He said so on the air.

See, aren't you glad you waited for this blog to find you something official, rather than jumping every time the idiots running Air America (though not for much longer) scotched another rumor by killing the zillionth buyout deal? Yes, your Psyops Blog is on the wrong side of the country for the radio industry, which has to be the most New York-centric business of all time, even though a good chunk of it is run out of Texas. We get everything last, but at least we have time to confirm it.

Here's the quotes. HuffPo:

Exclusive: Air America Rescued

The Huffington Post | Melinda Henneberger | Posted January 29, 2007 11:23 AM

Air America Radio, in Chapter 11 bankruptcy proceedings since October, will be rescued at the 11th hour by Manhattan real estate developer Stephen L. Green.

...

Green is the brother of Mark Green, the New York Democrat who served as the city's public advocate in the 90s and ran for mayor against Michael Bloomberg in 2001. He has already signed a letter of intent, and plans to finalize a purchase agreement within the week.

Air America CEO Scott Elberg confirmed the sale. "This is a great thing, for our affiliates, the company, the audience and every employee in our organization."

Here's more on Green from Liberal Talk Radio Blog:

Huffington Post reports that Air America has reached a sale agreement. And it isn't to Richard French. The company will be sold to SLG Radio LLC, an entity controlled by Stephen L. Green, founder and chairman of SL Green Realty Corp, a successful Manhattan real estate developer. The sale will be accomplished pursuant to section 363 of the United States Bankruptcy Code and is expected to close by mid-February. Green has signed a letter of intent and could finalize the purchase agreement this week. Also reported to be part of the deal is Green's brother, Mark, a New York Democrat who served as the city's public advocate in the 90s and ran for mayor against Michael Bloomberg in 2001. Mark Green had previously appeared as a guest host on the Air America program "Politically Direct".

...

As for Air America's future plans, Green has many ideas. "Because I'm a businessman who enjoys creating and growing companies, I'm purchasing a majority ownership in Air America with the intention of making it a successful business that returns a profit," said Green. "To assure that AAR survives and thrives, we'll do three things. First, we'll stabilize its finances. Second, we'll build on its lineup to assure the best radio talent possible, since in the long run content is king. And third, we'll extend this special brand by partnering with other platforms beyond radio to make sure that Air America's content reaches the wide audience it deserves."

Franken, of course, will continue to play games with us, but for the purposes of this blog, all we need to know is that he's gone as of February 14th. Thom Hartmann, who is already an AAR syndication, will take his place. Thom is smart, and politically very solid, but he has big shoes to fill.

Kos:

UPDATED: Al Franken leaving Air America for presumed Senate Run

by Elruin

Mon Jan 29, 2007 at 09:05:48 AM PST

Update: Many have commented that Franken has not officially committed to running, he's simply said he's leaving AAR to think about it. When I posted the diary, today's show was just about to start and the clarification hadn't been made. I, along with most, are assuming this he's already committed. (C'mon, why else would he leave the show?) Please forgive me for not being clear, and read the rest of the diary with your new-found knowledge... Oh yeah, this is my first Rec'd Diary. :) Thank you!

We wish the new AAR and Hartmann well.