Air America Radio Close to Being Sold

"Air America Radio, the liberal talk radio network headlined by the comedian and author Al Franken, is close to a sealing a deal with a buyer, a network spokeswoman said.

The network launched with much fanfare two years ago as an alternative to conservative talk show hosts like Rush Limbaugh, but declared bankruptcy protection in October after reaching an impasse with one of its creditors.

Jaime Horn, a spokeswoman for the New York-based network, said the company had reached a tentative agreement with a buyer - signing a letter of intent - but a final deal was not in place. She declined to identify the buyer."