Tags: Gore | Current | TV | sale

Al Gore’s Current TV Up for Sale

Friday, 26 Oct 2012 09:26 PM

By Todd Beamon

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Former Vice President Al Gore’s Current TV cable network is up for sale.

“Current has been approached many times by media companies interested in acquiring our company,” CEO Joel Hyatt told The New York Post on Thursday. “This year alone, we have had three inquiries. As a consequence, we thought it might be useful to engage expertise to help us evaluate our strategic options.”

Current, which is still interviewing investment banks, has not yet begun a formal sales process, The Post reports.

Begun in August 2005, Current has struggled to find its voice — in both programming and personnel. Gore started the network amid his efforts against global warming.

Current began as a youth-oriented network and later switched to news and documentary programming. It now is a news network.

Former “Countdown” anchor Keith Olbermann was brought aboard in January 2011 after MSNBC cancelled his contract — only to be let go this past March.

The network is now airing such programs as “Joy Behar: Say Anything!” and “Viewpoint with Eliot Spitzer.”

Owned by Gore, Hyatt and several private investors, Current is in about 60 million homes, making it valuable for buyers looking for cable network distribution, The Post reports.

Current receives about 12 cents for every pay-TV subscriber from operators that carry it, or around $82 million last year, according to SNL Kagan.

Last year, Current’s advertising revenue was estimated at only $16.9 million, The Post reports.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

House GOP Weighs New Border Bill to End Impasse

Thursday, 31 Jul 2014 19:55 PM

House Republicans are considering a new border security bill that would add more money for the National Guard as leaders . . .

Morici: Jobs Growth Disappoints, Real Unemployment Hangs at 18%

Friday, 01 Aug 2014 09:11 AM

The Labor Department reported the economy added only 209,000 jobs in July. The unemployment rate rose to 6.2 percent, bu . . .

Migrant Detention Facility Has Hair Salon, Child Care, Library

Friday, 01 Aug 2014 10:03 AM

Federal immigration officials on Thursday sought to show the softer side of immigrant detention, complete with cartoon w . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved