Air America owners looking to sell the company

[LTR]

OCT. 31 4:30 P.M. ET 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."

(snip)

Klestadt declined to say who the potential suitors for the company were, and a spokeswoman for Air America also declined to comment.

(snip)

Under the agreement finalized Tuesday, the company needs to have a deal in place with a buyer and have filed a motion with the court by Nov. 22 seeking approval of the sale to guarantee that financing continue beyond that date.

http://www.businessweek.com/ap/financialnews/D8L3S1580.htm
http://ltradio.blogspot.com/2006/10/air-america-radio-in-talks-with-suitors.html

[tridim]

1. They should call NovaM

:)

[Nickster]

2. So they turned down NovaM why? n/t

[Rosco T.]

3. they turned down Nova/M BEFORE the filing.... now Nova/M can swoop in..

.. and take over, probably at a BETTER price than before..

[Nickster]

4. That would work for me. Let's hope that's what they have planned.

Do you know anything about the satellite deal that NovaM mentions on their website? If NovaM buys out AAR, then would AAR still be tied to the exclusive XM deal? I got the feeling that NovaM was going to get on Sirius, not my favorite choice, but if they buy up AAR, I'm wondering if Mike gets back on XM.

[wryter2000]

5. IMHO, this is a good thing

Current management wasn't doing much of a job.