Al Gore's Current Media abandons plans for NYSE listing

LONDON - Plans to list former US Presidential candidate Al Gore's youth television network Current Media on the New York Stock Exchange have been cancelled.

Current TV: has lost money since its 2005 launch
Current TV: has lost money since its 2005 launch

Current Media, broadcaster of the user-generated TV channel Current TV, has said it has decided not to proceed with its public offering "in light of current market conditions".

The company added that no securities had been sold and all activity regarding the proposed public offering had been "discontinued".

Current Media registered its intention to go public on 28 January, 2008. There were indications its fortunes had changed in November last year when it announced plans to make 30 staff redundant.

According to reports, Current TV's most recent regulatory filing showed the company has lost money each year since its launch in August 2005.

It is not known whether Current Media will go public at a later date.

Current Media claims Current TV is watched in more than 51 million households in the USA and UK, where it is distributed by Sky and Virgin Media.

Gore served four terms in the US House of Representatives and two in the Senate. He served as vice-president to Bill Clinton and was defeated by George Bush in the disputed 2000 presidential election. He has since become well known for his environmental activism.

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

Claydon, Clifton, Blackett and Warby on Debrett's

Claydon, Clifton, Blackett and Warby on Debrett's

Jon Claydon, Rita Clifton, Karen Blackett and Sarah Warby are among the advertising, media and marketing names to make it into Debrett's list of the most influential people in the UK.

Share
Daily Mirror publishes its own tits on Page 3

Daily Mirror publishes its own tits on Page 3

The Daily Mirror is responding to the publicity around its rival The Sun's Page 3 by publishing a "montage" of tits tomorrow.

Share
MailOnline posts record 199.4m global monthly browsers

MailOnline posts record 199.4m global monthly browsers

Monthly visitors to MailOnline, the world's biggest English-language newsbrand, hit new highs of 199.4 million browsers in December 2014, according to figures from the Audit Bureau of Circulations.

Share

Get news by email