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Gore's Media Co. Is Going Public

Viewer-generated video channel registers to sell $100M of stock

By Jonas Oransky, Newser Staff

Posted Jan 28, 2008 8:25 PM CST

(Newser) – 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.”

[Images (3)]

[Videos (2)]

Former U.S. Vice-President Al Gore speaks during a working session at the World Economic Forum in Davos, Switzerland, Thursday Jan. 24, 2008. Climate change topped the agenda as well as pursuing a workable... (Associated Press)

Former U.S. Vice President Al Gore speaks at the Goteborg Aquarium, Goteborg, Sweden Jan. 22, 2008. Gore visited Sweden's second largest city to accept the 1 million kronor (US$150,000/106,000 euro)... (Associated Press)

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Gore's Media Co. Is Going Public