Air America Bankruptcy, Billy Kimball, Al Franken

BILLY'S GAME

Did Franken Producer Nearly Shut Down Air America?







From Air America insiders, we're hearing a lot of grumbling about Billy Kimball, Al Franken's notoriously- overpaid producer. To serve his own purposes, did Kimball nearly cause the network to be shut down today?

We've reported on Kimball's lavish lifestyle a great deal in the past. Start here if you're new to the story.


After all, it was Kimball, the former Late Late Show With Craig Kilborn writer, who volunteered to serve on a committee of creditors overseeing the liberal talk radio network's bankruptcy proceedings. Is he behind the objection that nearly thwarted the network's sale to Stephen L Green and Rob Glaser?


This report, published yesterday, provides a key clue:

Report: Sale of Bankrupt Air America Radio Hits Potential Roadblock

Submitted by Mark Hefflinger on February 15, 2007 - 1:09pm.

New York - Air America Radio, the New York-based liberal talk radio network that in October filed for Chapter 11 bankruptcy protection, has seen its proposed $4.25 million sale to SLG Radio hit a roadblock, according to TheDeal.com.

The website reported that the Air America's unsecured creditors committee is objecting to the deal, claiming that the sale process is being conducted exclusively for the benefit of the company's debtor-in-possession lender, Democracy Allies.

The committee claims that Democracy Allies has backed out of a deal to use $500,000 from the sale's proceeds to pay unsecured creditors, while at the same time it would be paid back in full, with several of its insiders receiving minority stakes in the acquiring company.

Here at the Radio Equalizer, we've had a big- city bankruptcy attorney examining every iota of the proceedings for the past two weeks, who has been unable to find anything in writing that backed the committee's claim. That's probably why Kimball's group didn't prevail in court today.

Interestingly, some of the people who object to Kimball's antics are fellow creditors who now have no hope of recovering monies owed to them, as this ongoing shell game continues to burn "progressive" investors.

But the concern is that Kimball may have been willing to shut down the entire network in order to possibly secure some of what he is owed, while most of the others would get nothing.

Given Kimball's outrageous past salary and perks, hasn't he made enough money, they wonder?


It is clear, however, that Billy has an addiction to the high life: he married into a wealthy family and his wife is the great- granddaughter of former Brazilian dictator Getulio Vargas (who flirted with the Nazi regime before later joining the Allies).

Kimball has long been one of the leaders of Stuart's Team Franken, which is made up of fellow Harvard grads.

While we're not yet 100% sure of Kimball's role in the near- shutdown of Air America (more like 90%), we can report with confidence that he is the one being blamed for it. And given his outrageous past antics, it's difficult to cut him any slack.


ELSEWHERE: fresh updates at SaveWRKO.

Classic Franken, AAR images: David A Lunde, Pete at IHillary, Kimball image: HuffPo

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