New York - Liberal talk radio network Air America Radio announced on Monday that it has reached a tentative agreement to be acquired by Stephen Green, chairman of New York real estate firm SL Green Realty Corp.

Financial terms of the deal were not disclosed.

The company also announced that Al Franken -- its top on-air personality -- will leave the company next month.

"Because I'm a businessman who enjoys creating and growing companies, I'm purchasing a majority ownership in Air America with the intention of making it a successful business that returns a profit," said Green.

"To assure that AAR survives and thrives, we'll do three things. First, we'll stabilize its finances. Second, we'll build on its line-up to assure the best radio talent possible, since in the long run content is king. And third, we'll extend this special brand by partnering with other platforms beyond radio to make sure that Air America's content reaches the wide audience it deserves."

Stephen Green's brother, Mark Green, has been a frequent guest and host on the radio network.

Launched in 2004, Air America struggled financially for most of its tenure before filing for bankruptcy in October 2006.

Comedian Al Franken, host of Air America's "The Al Franken Show," told the Associated Press earlier this month that he was considering a run for Senate in Minnesota.

Related Links:
http://www.airamerica.com/press
http://www.nytimes.com/aponline/business/AP-Air-America-Radio.html
http://www.slgreen.com