Bill Press gains radio backers
Pharmaceutical executive Milan Panic and money manager Richard Blum, the husband of Sen. Dianne Feinstein (D-Calif.), are among the investors in a new liberal radio program created by former CNN commentator Bill Press.
Press, a former co-host of CNN’s “Crossfire” television show, is seeking to raise $2 million for a private company that is distributing the new program. He has raised $450,000 from 11 investors, according to an August filing with the Securities and Exchange Commission.
Press, a former chairman of the California Democratic Party, said the program will emphasize “progressive” values, and his goal is to syndicate it nationally. The idea is create a profit-making venture and a counterbalance to such conservative talk-radio hosts as Rush Limbaugh, Press said.
The program began broadcasting June 26 through Sirius Satellite Radio Inc. XM Satellite Radio, Sirius’ main competitor, last year began carrying Air America Radio, a liberal station whose hosts include entertainers Janeane Garofalo and Al Franken.
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