Liberal Radio Group Says It Is Close to Acquiring 5 Stations
By JIM RUTENBERG

A Democratic investment group planning to start a liberal radio network to counterbalance conservative radio hosts like Rush Limbaugh says it is close to buying radio stations in five major cities.

The acquisitions would represent a major move toward making the network real. After its conception was announced in February, many radio analysts and even some Democratic activists predicted that the network would face too many challenges to get off the ground, including finding stations to run its programming and bucking a historical record replete with failed liberal radio attempts.

But executives with the newly formed company, Progress Media, said late last week that if all went as planned they would have the network running by early spring, in time to be part of the public dialogue during the presidential campaign season.

The executives said the stations they were acquiring reached all radios in 5 of the 10 largest media markets: New York, Los Angeles, San Francisco, Philadelphia and Boston. They said they would buy stations in other markets in the near future.

"We're steady as she goes to have a broadcast debut in early 2004, which gives us time to be part of the election year," said Mark Walsh, the company's chief executive and an Internet entrepreneur formerly with VerticalNet and America Online.