AirAmerica Radio seems to be going down in flames. Finding a new LA outlet is now the least of their worries. The Chicago Tribune first broke the story that several bigwigs at the fledgling Liberal radio network, including the Chair of the Board and the Vice Chair, are bailing. And wait: things get worse. Here's a fair-use copy of the text:

Air America Radio chief resigns

By John Cook
Tribune staff reporter

May 6, 2004, 6:01 PM CDT

In yet another sign of trouble for Air America Radio, the liberal talk network entering its fifth chaotic week on the air, co-founder and chairman Evan Cohen resigned Thursday, as did vice-chairman and investor Rex Sorensen.

The company also failed to make its scheduled payroll Wednesday, leaving its staff roughly 100 radio personalities, writers, and producers unpaid until Thursday.

"We're on a wild ride," said Jon Sinton, the network's president, acknowledging that Air America has suffered "the typical bumps and bruises faced by any start-up."

"But the bottom line," he said, "is that we are on the air to stay."

The departures of Cohen, a former Republican political operative from Guam who was among the network's initial investors, and Sorenson, an investor who owns radio stations in Guam, mark the second executive shake-up at the fledgling network in as many weeks. Last week, co-founder and CEO Mark Walsh resigned (he remains a senior adviser to the network) and programming chief Dave Logan was forced out.

Replacements for Walsh and Cohen have yet to be named. Asked when those executive positions would be filled, Sinton replied: "I wouldn't hold my breath."

Copyright © 2004, Chicago Tribune

This doesn't look good at all. Sure do hope that some of the more entertaining folks on the network get new homes when this all busts up. I've gotten to liking a lot of the programming on the network...Randi Rhodes, Janeane Garofalo, Chuck D...hell, even Al Franken has his moments.