You have to give the Drobny’s an E for effort. They were also co-founders of Air America Radio, which has also gone bankrupt and changed hands a few times since then. From the Wall Street Journal . . .
Nova M Radio Inc., a competitor to troubled radio network Air America, is filing for bankruptcy liquidation, according to the company’s co-founder, amid mounting disarray in the small world of liberal talk radio.
Anita and Sheldon Drobny, a married couple from Chicago, founded Nova M in 2006 and have been funding the business partly out of their own pockets. Compounding their troubles: Nova M’s highest-profile host, Randi Rhodes, vanished from the airwaves earlier this month. Mrs. Drobny also said that her husband is currently hospitalized for problems stemming from the stress of dealing with the network, which has 34 affiliates.
From the Radio Equalizer . . .
In a troubling development for Sheldon Drobny’s fledgling NovaM libtalk network, flagship station KXDE / Little Rock has dumped his “progressive” format and switched to sports, according to talk radio reporter Perry Simon.