Judge OKs sale of Air America Radio

NEW YORK -- A federal bankruptcy judge on Friday approved the sale of the liberal talk radio network Air America Radio for $4.25 million to Stephen L. Green, founder of a New York real estate firm.

Green and his brother, Mark -- the longtime liberal New York City politician and frequent guest on Air America -- plan to continue running the network.

In announcing his plans to buy the network in late January, Green said in a statement that he intended to make it "a successful business that returns a profit."

Air America was launched in 2004 and has lost money ever since. Its most prominent personality was the comedian and author Al Franken, who left the network on Wednesday to run for nomination to a U.S. Senate seat from Minnesota.

The network produces 19 hours of original programming a day and is heard on 81 affiliates that reach 1.9 million listeners per week.

The deal is expected to close next week.