Thought I'd start a new entry for this one.
Anita and Sheldon Drobny 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.
Nova M's other host, Mike Malloy, is switching to another would-be Air America competitor: Phoenix-based start-up On Second Thought Radio Network LLC. The backer of On Second Thought, Dr. Mike Newcomb, who was involved with Nova M until last year, describes his new network as "talk radio for independent minds." He plans to use former Nova M station KNUV in Phoenix as his company's flagship.
Ms. Drobny says she and her husband had poured their own money into Nova M, but the business became unsustainable last fall. As advertising revenue plummeted, so did the Drobnys' personal portfolio, making it impossible for them to keep supporting the company. Toward the end, Nova M lost $100,000 a month. The financial stresses eventually affected her husband's health, she says, leading to the breakdown that landed him in the hospital.
"There were so many wealthy progressives out there that could have made [progressive radio] happen," she said, but they didn't want to help. "It ended up being on Sheldon's shoulders."
It is with great excitement and optimism that I announce today the formation of a new progressive talk radio network. The On Second Thought Radio Network will continue to build upon the foundation laid by our predecessors and will work dilligently to fulfill our fiduciary responsibilities to all investors and principals involved. Equally important, we will, with the millions of faithful progressive listeners across the country, uphold our vision to promote freedom, social justice, economic justice and peace worldwide.
...We will initially be offering a daily 9 hour block of programming with some of the most entertaining, engaging, experienced and provocative hosts America has to offer. We look forward to adding more talent and innovative products to our network in the near future.
One thing we can assure you is that we will always value the fundamental principle of “We the People” proclaimed by our Founding Fathers. The On Second Thought Radio Network will work tirelessly to hear the voices and honor the commitments of our listeners, affiliates, supporters and advertisers alike. We welcome any and all suggestions as we go through this transition period. Please feel free to email us at firstname.lastname@example.org and continue to check out our web site, http://www.onsecondthought.net/ where we will keep you up to date on the latest and greatest that we hope to offer to you!
Mike Newcomb, CEO
On Second Thought Radio Network