The network will remain on the air while its parent company, Piquant Inc., seeks money and reorganization under the leadership of a new chief executive, the New York Times said.
The network, which began broadcasting with much fanfare two years ago with the goal of becoming a counterweight to conservative talk radio, has struggled to attract audiences and financing. Air America is heard on about 90 radio stations nationwide and has lost more than $13 million in 2006 and $40 million since its founding, the report said.
Millions of Getty images now available for free via embed tool
Aaron Carter is still in love with Hilary Duff