Two-year-old Air America, the "liberal radio network" currently languishing in Chapter 11 protection — and is it our imagination, or has it always been languishing in Chapter 11? — is in for a major makeover, according to news reports today. First, its current group of investor-owners are washing their hands of the ailing enterprise; it's all but sold to Stephen Green, the founder of SL Green Realty Corp. and the brother of Mark (the former mayoral candidate). Second, the scratchy voice of the network, Al Franken, is leaving next month. Portland-based author Thom Hartmann, whom we don’t know much about but who looks strikingly like an SNL parody of a liberal, will take his time slot. Everyone agrees that Air America — whose noble attempt to counteract right-wing bloviators ran into the fact that liberals suck at yelling or being yelled at — can use retooling. But we're more interested in two other items perhaps implicit in the sale. One, we've got to assume Mark Green is not as retired from politics as some have predicted, and, two, we've also got to assume Al Franken is definitely running for Senate.

SL Green Founder to Acquire Air America [Crain's]