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 Post subject: AAR may have new owners soon
PostPosted: Tue Jan 23, 2007 3:49 am 
Hear Me Roar!

Joined: Fri Sep 29, 2006 3:49 pm
Posts: 284
Location: Northwest Indiana
Air America Radio may have found a buyer. In an interesting side note, former AAR host Marc Maron has been in talks with one of the potential buyers.


Air America close to sealing the deal

Air America Radio’s parent company may have found a new owner, and will likely make an announcement as early as today, according to Reuters and the Wall Street Journal.

The consortium of investors will be led by the Richard French family of Westchester County, NY, which owns New York City-area television concern WRNN. The group is close to signing a deal to purchase the assets of Piquant LLC, which filed for Chapter 11 bankruptcy protection in New York in October, according to people familiar with the situation. An agreement could be announced as early as today, these people said. Any agreement would need to be approved by the bankruptcy court. If the deal doesn’t go through, it increases the likelihood that Piquant could face imminent liquidation.

Here is the story from Reuters:

Air America Radio paent may find buyer -- WSJ

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