Al Jazeera Buys Al Gore's Current TV

Qatari news organization Al Jazeera Media Network announced Wednesday that it has acquired U.S. cable channel Current TV, with plans to begin broadcasting over the channel in 2013.

Al Jazeera states that by virtue of Current TV's existing relationships with cable providers, it will soon expand its U.S. audience by nearly 10 times, to more than 40 million of the 60 million U.S. households that receive Current TV. To support the expansion, Al Jazeera will open news bureaus in cities in addition to its current bases in New York, Los Angeles, Miami, Chicago, and Washington, D.C.

Current TV, which former Vice President Al Gore set up seven years ago, has its headquarters in San Francisco, a studio in Los Angeles, an advertising sales operation in New York, and international desks in London and Milan.

Al Jazeera stated that it also intends to double its U.S. staff to more than 300 employees.

Financial terms of the deal were not disclosed. Several media sources are reporting that Time Warner Cable (NYSE: TWC  ) stopped carrying Current TV after the Al Jazeera deal was announced.

link


Read/Post Comments (1) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Add your comment.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2177394, ~/Articles/ArticleHandler.aspx, 10/22/2014 6:19:45 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement