Top executives at Al Gore’s struggling Current TV are reportedly considering selling the service, the New York Post reports.
“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.”
Bear in mind, the “ratings-challenged” station is only in the discussion stage of selling. Still, a spokesperson confirmed with POLITICO that talks are taking place with investment banks.
“Current … is in about 60 million homes, which could make it valuable to buyers looking for cable network distribution,” the Post ntoes. “It gets about 12 cents a subscriber from pay-TV operators that carry it, or around $82 million last year, according to SNL Kagan. Ad revenue last year was estimated at just $16.9 million.”
But why are they struggling at all? After all, when you have so much talent to draw from:
Exit Question: Any guesses how much it will sell for?
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