Tuesday, February 17, 2009

Nova M Files For Bankruptcy, Founder Attempts Suicide.

Malloy to stay on KGOE.

Randi Rhodes’ on-air home for less than a year will shut its doors. In an email message of February 17th from counsel for Nova M Radio, Inc. to Randi’s entertainment attorney, Robert V. Gaulin, the company is said to have been advised to file for bankruptcy protection next week. All payroll deposits were reversed on Tuesday, leaving Nova’s employees unpaid for the past two weeks. On Sunday, Nova received a letter from Mr. Gaulin asserting that the contract with Ms. Rhodes was terminated due to material breaches and other reasons. Ms. Rhodes had not broadcast for over a week prior to this time, a situation which was diplomatically referred to as a “problem” that was solely within Nova’s control to solve. A few days earlier, Sheldon Drobny, founder of Nova M, and a co-founder of Air America Radio, attempted suicide and is hospitalized in Chicago. Mr. Gaulin indicated on Randi’s behalf that “We saw this coming, but are most saddened by the tragic news regarding Sheldon Drobny. Randi is devastated by the impact of these events upon her fiercely loyal audience, affiliates and sponsors. Discussions are already being conducted for Randi’s swift return to the air. Stay tuned…”


Mike Malloy will stay on KGOE 1480. I received a call from a represenitive of the company that says they will be taking over the Mike Malloy Show. They will also be adding Dr. Mike Newcomb to their line up although I currently have no plans to carry Mike Newcomb. Mike Newcomb was on Nova M when they began but left over a year ago.

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