Air America Radio Files Chapter 11

NEW YORK Oct 13, 2006 (AP)— Air America Radio, a liberal talk and news radio network, has filed for Chapter 11 bankruptcy protection, a network official told the AP.

The network had denied rumors just a month ago that it would file for bankruptcy, but on Friday Air America said negotiations with a creditor from the company's early days had broken down.

The network will stay on the air while it resolves issues with its creditors, spokeswoman Jaime Horn told the Associated Press. A formal announcement was expected to be made later Friday.