In the first part of the multiple-installment series by Michelle Malkin and Brian Maloney, the pair expose Air America's transfer of ownership between original parent firm Progress Media and current owners Piquant Media as little more than a shell game. In part II, the two show that the shell game may not have ended with the first allegedly fraudulent conveyance:

On July 21, 2005, a standing room-only crowd of Democrats filled a Highland Park, Illinois, public library conference room to hear two local businesspeople talk about their company and its future plans.

The attraction? These weren't your everyday corporate suits: it featured Sheldon and Anita Drobny, who last year put Al Franken and Janeane Garofalo on their upstart liberal Air America talk radio network. Hearing about their "success" was surely appealing. ...

Sheldon's wife Anita took to the podium to spill the beans about Nova M Radio.

Disclosing Air America's future plans to a room full of rabid supporters might seem smart, especially if it brings potential investors to what inside sources say is an effort to raise $5 million to fund the new company.

Was such a public disclosure legal, however? Since Nova M Radio's offering is set up as a private placement, there have been no indicated or available US Securities and Exchange Commission filings.

Be sure to read this latest entry in the Air America scandal -- the story that even the New York Times admits we should be reading even if they're not covering it.

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» Err America Woes from http://hardstarboard.blogspot.com/2005/08/err-america-woes.html
Meanwhile, in part deux of Brian Maloney's and Michelle Malkin's joint blogestigative report on the Air Scamerica scandal, we learn that the left-wing radio netlet is still scamming away to this day: On July 21, 2005, a standing room-only crowd ... [Read More]

Tracked on August 19, 2005 10:14 PM

» Err America Woes from http://hardstarboard.blogspot.com/2005/08/err-america-woes.html
Meanwhile, in part deux of Brian Maloney's and Michelle Malkin's joint blogestigative report on the Air Scamerica scandal, we learn that the left-wing radio netlet is still scamming away to this day: On July 21, 2005, a standing room-only crowd of... [Read More]

Tracked on August 19, 2005 10:16 PM