It is pitched as "Radio call-in shows for the digital age."
This was noted as one of the first four purchases that Yahoo! has made.
Mentioned fourth paragraph down.
http://www.bizjournals.com/charlotte/blog/morning-edition/2013/02/yahoo-ceo-marissa-mayer-buys-fourth.html
First Look: OnTheAir's Video Call-In Show Platform Makes Hangouts and
Ustream Seem Static
http://techcrunch.com/2012/03/27/ontheair/
Here's how it works. A host sets up an OnTheAir show and selects a
start time. They receive a unique URL that leads to a landing page
with a countdown to their show. OnTheAir lets them schedule tweets for
an hour and a few minutes before the show starts to promote
themselves. When the show starts, the host begins live video streaming
to the audience.
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