As we at the H.O.R.N. prepare our live coverage of the momentous mountaintop removal debate between Robert Kennedy Jr. and Don Blankenship live from Charleston, West Virginia (beginning at 6pm Eastern), we also take a moment to mourn the passing of Air America Radio.

The announcement, which appeared on Air Amercia’s website a few minutes ago, took AAR late night host Nicole Sandler by surprise.  In part, the statement by Air America reads as follows:

It is with the greatest regret, on behalf of our Board, that we must announce that Air America Media is ceasing its live programming operations as of this afternoon, and that the Company will file soon under Chapter 7 of the Bankruptcy Code to carry out an orderly winding-down of the business.

The very difficult economic environment has had a significant impact on Air America’s business. This past year has seen a “perfect storm” in the media industry generally. National and local advertising revenues have fallen drastically, causing many media companies nationwide to fold or seek bankruptcy protection. From large to small, recent bankruptcies like Citadel Broadcasting and closures like that of the industry’s long-time trade publication Radio and Records have signaled that these are very difficult and rapidly changing times.

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[C]urrent employees will be paid through today, January 21. A severance package will be offered tomorrow to full-time current employees with more than six months of tenure.We will strive to assist affiliates and partners in achieving a smooth transition. Starting at 6 pm EST today, we will provide our affiliates, listeners and users a selection of encore programming until 9 pm EST on Monday, January 25, at which time Air America programming will end.

With your continued assistance, the H.O.R.N. continues to provide liberal conversation radio.