In my previous post I mentioned how Air America Radio, the AM radio mouthpiece of the liberal/progressive movement, recently closed shop here in Phoenix. Isn’t it ironic, funny, or hypocritical – choose your adjective – then, that the mainstream media, or MSM, which relentlessly promoted its startup through countless items about it back in 2004, chooses to ignore AAR’s ongoing financial woes and the suspected improprieties that have no doubt contributed to AAR’s decision to scale back of operations where necessary.

As has increasingly become the norm, it’s been left to bloggers like Brian Maloney and Michelle Malkin to do what once was the MSM’s job – that is, to report the news. It should surprise no one that in the face of the MSM’s unwillingness to force the issue, no one at AAR – not its management nor its talk hosts – has either apologized or willingly discussed at length the scandal involving AAR and the Bronx-based Gloria Wise Boys and Girls Club, at least publicly.

Nevertheless, even with its checkered history of performance and dismal prospects in a number of major AM markets, AAR appears to have found a sugar daddy to help keep it afloat:

Could this be Al Franken and Janeane Garofalo’s lucky day?
As crucial midterm congressional elections approach, can America’s “progressive” leaders really afford to let an ailing liberal talk radio network die?

Apparently, the answer to the first question is yes, to the second, no, the Radio Equalizer has learned.

Through an emergency bailout plan, a coalition of wealthy liberal political activists are poised to at least temporarily save Air America Radio. On the way: as much as $8 million in sorely-needed cash to fund ongoing operations.

For Air America, it has finally come to this: secure a bailout or begin to wind down operations. As a business entity, the liberal network just isn’t cutting it.

Profit? That’s a theoretical concept.

While other political organizations such as People For The American Way and new private operator GreenStone Media (founded by MoveOn.Org-supporting former radio executive Edie Hilliard) are also suddenly kicking in support by purchasing air or satellite time, DA may be the only one with deep-enough pockets to save it outright.

No one here is complaining about the free market coming to Air America’s rescue – I for one, while not a supporter or regular listener of it, nevertheless recognize the value it brings to everyday political discourse (not matter how informed or sophisticated it may or may not be) in the marketplace of ideas. Rather, it amazes me that anyone – no matter how deep their pockets may be – would be willing to bank their investment on such a loser with an at-best uncertain future. And (while I can guess their hesitancy to cover it) why the MSM chooses to ignore a story they were so willing to trumpet a mere two years ago.