Shuttered liberal radio network Air America is auctioning off their "not be divulged to any third party" newsletter list—under the guise of "intellectual property." UPDATE: See the auction document.

In your slushy Wednesday media column: Keith Olbermann sniffs out media bias whether it exists or not, a way to save magazines in fantasyland, PARADE's editor leaves, and Air America totally owes media people money.

• NBC Universal's profits tumbled 30 percent in the fourth quarter and dropped 28 percent in 2009. And that was before The Tonight Show mess and the money-losing Olympics were factored in. Good work, Zucker. [THR, LAT]
• More on Conan's departure (and his big ratings this week); Jay Leno's attempt at damage control; his sure-to-be-awkward appearance at the White House Correspondents Dinner; and the "explosion of incivility" on late-night TV.
• More on Air America's meltdown and the aftermath. [NYT, AdAge, Politico]
• How the "Hope for Haiti Now" telethon came together (Clooney made a call) and who will be taking part (140 celebs around the world). [LAT, AP, People]
• The 2010 Sundance Film Festival is in full swing. [LAT, Wrap, MTV]
• Roman Polanski has to return to the U.S. for sentencing, per a judge. [AP]
• Jon Stewart slams Keith Olbermann; Olbermann snipes back. [HP]
• The SAG Awards go down in LA tomorrow night, in case you care. [AP, NYM]
• Jim Cameron is the most important man in the world! Allegedly! [BN]

Air America Media, the liberal radio network (and, increasingly, political website) has filed for Chapter 7 and will cease broadcasting this evening. All employees have been let go.

• As if this hasn't already been a crappy week for liberals thanks to the election results in Massachusetts, Air America announced today that it's shutting down effective immediately and filing for bankruptcy protection. [AP, WP]
• More on the conclusion of l'affaire Coco, what's in store for O'Brien (unclear), and what NBC can look forward to in the months ahead (lackluster ratings for Leno, mammoth losses, continued shame, etc). [NYT, TW, WSJ, NYT]
• CNN has been pulling out all the stops to cover the crisis in Haiti (not to mention invested in hundreds of tight t-shirts for Andy Cooper). And yet Fox News, which has sorta ignored the earthquake (and typically avoids covering stories involving poor black people) is still out in front in the ratings. [LAT]
• Kitty Kelley's tell-all about Oprah hits bookstores on Apr. 13. [AP]
• A Pulitzer for the National Enquirer? Stranger things have happened. [WP]
• HGTV and Food Network have returned to Cablevision customers. [NYT]
• Thanks to Lionel Richie and Quincy Jones, you'll be hearing "We Are the World" (Haiti 2010 edition) again in the near future. [Showbiz411]
• Madonna and Beyoncé have joined Team Clooney, FYI. [Reuters]
• So much for free content: Hulu may start charging its users to watch popular TV shows in the future; and YouTube is introducing pay-per-view videos.
• Is the Wall Street Journal really launching a travel agency? Yes. [E&P]
• Say goodbye (arrivederci?) to MTV's Jersey Shore. [NYM, Gawker, MTV]

Air America is facing financial problems, again, and might ask for donations. But National Public Radio totally has a patent on charging liberals for free stuff!

Can you destroy — or cement — your professional reputation in 140 characters or less? On Twitter, it's easy! Watch and learn from ABC's Jake Tapper, ex-Wonkette Ana Marie Cox, VentureBeat's Eric Eldon and others:

Original Wonkette Ana Marie Cox has landed a gig at Air America radio. Maybe all those appearances on the Rachel Maddow Show finally paid off. With a job!

Air America Radio, the liberal talk radio network that has come to dominate the radio dial and our country's political media at large (you can't go anywhere these days without hearing about the latest Rachel Maddow show) is back in the news. This time, for fraud! The network's fugitive former director, Evan Montvel-Cohen, was arrested in Guam yesterday on money-laundering charges unrelated to Air America. But boy, they should really consider rehiring him for his fundraising skills alone:

The mean radio lady who ruined American political discourse by calling Hillary Clinton a "fucking whore" is losing her job on a radio network no one listens to and will be forced to work for the largest station owner in the entire country. Hope you've learned your lesson, Randi Rhodes! With Rhodes off to Clear Channel's Oakland AM station KKGN, her former network Air America went looking for someone less grating, and logically came up with comedian Richard Belzer. Here's how the liberal network justified the switch, according to the Daily News:

Air America host Randi Rhodes called Hillary Clinton a whore! Oh nooooooo outrage!! Rhodes, who has always been a cross between an outrageous stand-up comic and a naughty drive-time shock jock, has a regular show on the liberal radio network that no one listens to. The clip of her calling Hillary a whore was taken somewhere or other at some point in time and posted to YouTube by some guy. It's a scandal to those who need to actually pretend to take Randi Rhodes seriously in order to feel outraged about something. Also she calls Geraldine Ferraro a whore but no one cares. Anyway, Air America suspended her. Clip after the jump!

• Cenk Plans to Sue Stephen Colbert! [TheYoungTurks.com]

• What do all these kids have in common? They're being exploited by a Murdoch-owned paper to boost sales in the wake of that whole racist "Big Brother" episode. [Guardian]
  

• Joey Ramone's mom, Charlotte Lesher, died of a heart attack on Saturday night. R.I.P. [JoeyRamone.com]
  

• Broad and Burkle talk to Tribune directors, who may not sell the company after all. Great, that's six months of our lives wasted. [LAT]
  

• Apparently, what finally got Judith Regan canned was making anti-Semitic comments. When are people going to learn that you cannot fuck with the Jews? Also, if anyone out there knows what she said specifically, get in touch. We'll pay top dollar to either of you Jew lawyers who were on the other end of the phone. [NYT]
  

Between crying over Jessica's departure and the drunkening that ensued, we missed this last Friday - Air America Radio filed for Chapter 11 bankruptcy. This development doesn't surprise anyone who was paying attention (or even those who weren't, like us), as the air of America was rife with reports of unpaid bills and low listenership.

From ThinkProgress:

Remember Air America? No? Neither do we. But someone has to broadcast Al Franken and Janeane Garofalo — apparently — and beginning in September, interested New Yorkers must painstakingly reprogram their AM radio settings. Kicked out of its cozy midnight-5 a.m. slot at WLIB (home of Al Sharpton!), AA will move to a new "flagship" at WWRL. The new station has less than half the watts of the old one, but according to AA cofounder Sheldon Drobny, CEO Jim Wigget is still "excited" about the move. "Air America will supplant WWRL's black talk format," intones Drobny imperiously. Does this mean WWRL "personality" Alan Colmes (at right, of Hannity and fame) will also get all supplanted? Can Colmes and Air America peacefully coexist? Does anyone actually still listen to this crap on either side of the politico-radio spectrum? Most importantly, what about Prince Kalunda?

More mopping up this morning of last week's softball. Vanity Fair filed a report late yesterday on its Thursday-night drubbing of the Air America team — dubbed by the VF wits the "Pugnacious Progressives," "Blue-State Broadcasters," "Syndicated Seditionists," and "Left Dialers." Valiantly playing on the face of an impending deluge, VF and Air America held on reach the middle of the fourth, when the game ended in a 9-4 VF win. So how could it take from Thursday night till Monday afternoon to write up three and a half innings? The nicknames, clearly.