Al Gore’s struggling Current TV on the block (for sale)
Al Gore’s struggling Current TV on the block
By CLAIRE ATKINSON and EMILY SMITH
Last Updated: 11:26 AM, October 26, 2012
Posted: 11:42 PM, October 25, 2012
EXCLUSIVE
Current TV, the ratings-challenged cable network started by former Vice President Al Gore, has put itself up for sale, The Post has learned.
“Current has been approached many times by media companies interested in acquiring our company,” CEO Joel Hyatt told The Post. “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 is still interviewing investment banks and has yet to launch a formal sales process, said one source.
The service, launched in August 2005 after Gore had begun his crusade against global warming, has churned through programming and personnel as it tried to find its voice.
The channel started out as youth-centric and user-generated before going heavier on news and documentaries. Its latest incarnation is as a left-leaning cable news network, à la MSNBC.
more...
http://www.nypost.com/p/news/business/gore_struggling_current_tv_on_the_lufEY78RWTMHhYtV5ljbSP?utm_source=SFnewyorkpost&utm_medium=SFnewyorkpost
= new reply since forum marked as read
“Current has been approached many times by media companies interested in acquiring our company,” Current CEO Joel Hyatt reportedly told The New York Post. “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.”
The network — home to progressive opinion shows like “The Young Turks,” “The War Room with Jennifer Granholm,” “Say Anything! with Joy Behar” and “Viewpoint with Eliot Spitzer” — remade itself after former MSNBC host Keith Olbermann was unceremoniously cut loose from the network. Unfortunately, Current and Olbermann couldn’t see eye-to-eye on a host of things and the show was plagued with technical issues before management gave him the boot.
In Olbermann’s wake, Current struggled to gain ratings, launching numerous new progressive opinion shows and innovative presidential debate coverage featuring live fact checking via Twitter. While these fresh efforts have helped improve the numbers, it may not be enough to save Current.
The Post noted that Current still pulled in almost $100 million last year from advertising and pay-TV operators, but the largest chunk of that was under threat in April after Time Warner cautioned Current that it could be taken off its network due to low ratings. That hasn’t happened yet, but it presumably still could — giving reason for executives to talk seriously about cashing out before the company loses a significant portion of its value.
Link: http://www.rawstory.com/rs/2012/10/26/al-gores-current-tv-evaluating-buyout-offers/
The fact that...
Don't get me wrong... I'm worried about what this may mean, But...
Why would somebody want to buy a "failing" company ?
Unless they want to shut down that voice... but THAT would be some long term planning...
Too late for THIS election at least.
And of course someone might be interested, if the price is right, and they'd have the right to change the content, which I imagine is what will/would happen.
And ftr, I AM aware of how horrid the Post is, but this isn't an opinion, seems to be happening.
Repugs love to say Gore is failing. They live under the assumption that liberal talk can never make money and must always fail. Silly repugs.