Wanting to make sure that no one thinks a bankruptcy declaration by Air America would be bad news, ThinkProgress adds:

The right wing is sure to seize on Air America’s financial woes as a sign that progressive talk radio is unpopular. In fact, Air America succeeded at creating something that didn’t exist: the progressive talk radio format. That format is now established and strong and will continue with or without Air America. Indeed, many of the country’s most successful and widely-syndicated progressive talk hosts — Ed Schultz and Stephanie Miller, for instance — aren’t even associated with Air America.
Radio giant Clear Channel is so committed to progressive talk radio that, this week, it will announce a partnership with the Center for American Progress, Jones Radio, and MSS Inc., to conduct a nationwide search for the next Progressive Talk Radio Star.