The company eventually changed its name from Air America Radio to Air America Media and lastly to just Air America, an effort to establish itself as a broadcaster on multiple media sources including television and the Internet, and one not merely relegated to radio. Always primarily a radio network, on January 21, 2010, Air America went off the air citing difficulties with the current economic environment. It filed for
Chapter 7 bankruptcy and liquidated itself. Bennett Zier was the company's last CEO including through the bankruptcy and liquidation.
Sometime after the network's closure, Newsweb Corporation (owned by Chicago entrepreneur, political activist, and philanthropist
Fred Eychaner and owner of Chicago's
WCPT progressive talk radio station) acquired ownership of the branding.