Air America Radio hit the airwaves in spring 2004 with great fanfare.
Democratic presidential candidate John Kerry was in a tight race with George W. Bush, and the liberal wing of the party was more energized than ever - and Air America aimed to ride that enthusiasm into the big leagues of the radio broadcasting market.
Two and a half years later, the limping radio network has filed for bankruptcy protection. Its investors reportedly said enough was enough after three straight years ...