Several news sources including the Wall Street Journal and Reuters are reporting today that the French family, owners of WRNN-TV will lead an investor group that will buy bankrupt assets of Air America Network. The future of the struggling liberal talk network has been in doubt since AAR filed for bankruptcy protection in November. Rumors have circulated since then that White Knights would come to their rescue. One of those rumors suggested that an investor groups led by current AAR Board members, Terry Kelly and Doug Kreeger were positioned to take over.
However, it now appears the French family will be in the drivers seat. It is unclear what this means from an operational point of view. The WSJ story reports that Richard French, a former New York State Democratic official and polical ally of Hillary Clinton will be doing a nightly show on AAR. The same report indicates that former AAR yakker, Marc Maron will be returning.
Right wing bloggers are having fun with this story. One blogger, The Deal Breaker, used the following headline to report the pending deal Air America already liberal, effete, gay, about to become French.
WRNN is an interesting broadcast operation. Although licensed to upstate of community of Kingston, NY, they have used the "must carry" rules to gain carriage on cable systems in Westchester County. They offer a mix of regional news and informercials. Their pending takeover of AAR could expand their operational base.
we've learned that the network's primary "media partner" is the French family, which owns the New York- based Regional News Network.