Gore's Media Co. Is Going Public
(Newser)
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Current Media will soon become even more public: The viewer-created cable TV network, co-founded by Al Gore in 2005, filed an IPO today. The young adult-oriented company registered to sell up to $100 million in class A common stock, but the price range and number of shares weren’t disclosed—and don’t necessarily correlate with the registration fee, the Wall Street Journal reports.
Launched in 2005, the channel is available in 51 million households. It had a net loss of $9.9 million and banked $63.8 million in revenue last year, up from 2006’s $7.6 million loss and $37.9 million in revenue. Executive chairman Gore drew more than $1 million last year from Current Media, which will list its shares on Nasdaq under the symbol of “CRTM.”
Source:
Wall Street Journal
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