Air America Turns Off Its Microphone

The seemingly-ever-floundering liberal radio network is closing its doors:
"Air America Media is ceasing its live programming operations as of this afternoon, and that the Company will file soon under Chapter 7 of the Bankruptcy Code to carry out an orderly winding-down of the business," wrote the company's chairman, Charlie Kireker, in a memo to staff, forwarded to reporters by a spokeswoman for the radio network.

Kireker cited economic, not political, tides.

"Those companies that remain are facing audience fragmentation as a result of new media technologies, are often saddled with crushing debt, and have generally found it difficult to obtain operating or investment capital from traditional sources of funding. In this climate, our painstaking search for new investors has come close several times right up into this week, but ultimately fell short of success," he wrote.
I would love to see some data on possible reasoning for this. Why is it that conservatives have a much larger -- a much more loyal -- base of radio listeners? Why is it that conservative talk radio is, on the whole, so much more successful? Thoughts?