Air America Radio Filing for Bankruptcy?

Are the rumors true? Is Air America Radio, the nation’s premiere source of liberal-BS, on the ropes? It appears that in a last ditch effort to save the fledgling radio network Air America Radio has decided to file for bankruptcy (something of which has been speculated for months now) and five employees have been handed pink slips, among them Jerry Springer. I’ll be reporting more on this late-breaking story (cough, cough) as I find the time this evening.