Liberal radio group buying five stations

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(CNN) -- The group hoping to launch a new liberal radio network is close to purchasing stations in five major markets.

A spokesman for the initiative, dubbed Central Air, said Monday the company is near a deal to buy radio stations in New York, Los Angeles, San Francisco, Philadelphia and Boston. He would not say how much money was being spent.

The group wants to buy stations in other markets as well.

The network, which is being put together by a company called Progress Media, was initially backed by Chicago venture capitalists who have since sold their share to Evan Cohen, a New York investor. The CEO is former AOL executive Mark Walsh.

The network is aiming to have programming that is entertaining, "not just wonky policy-oriented reporting," the spokesman said.

Among the shows being planned is one with comedian Al Franken that could be called "The Liberal Show," though the spokesman said the name has not been finalized.

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