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January 28, 2008

Gore-Backed Current Media Inc. Going Public

I predict, boredom.

SAN FRANCISCO (AP) - Cable television upstart Current Media Inc. plans to go public later this year, giving investors a chance to assess the entrepreneurial skills of its co-founder, former U.S. Vice President Al Gore.
In documents filed Monday, the San Francisco-based owner of the Current TV cable channel set a preliminary fundraising target of $100 million for the initial public offering of stock. The final amount will probably change after Current Media's investment bankers gauge the demand for shares in the company.

I'll bet it will.

The business plan seems to be an Air America trainwreck with a smaller burn rate. To date they've lost $31.9MM, over 17MM of that last year.

Only 16% of their revenue is based on advertising though, the rest from cable and satellite fees.

You can get in on the ground floor with this one baby.

posted by Dave In Texas at 06:20 PM

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Rumors Fly That Kim Jong-un Has Been Assassinated in Beijing Good Parenting? Obama's Compromise: I'll Just Mandate That Employers Contract With Insurers To Cover Contraception For Free, and Hence Employers Cannot Be Said To Be Paying For It Straw Poll	« Giuliani On The Brink: "The winner of Florida will win the nomination" \| Main \| The Onion: Child Bankrupts Make-A-Wish Foundation By Wishing For Unlimited Wishes » January 28, 2008 Gore-Backed Current Media Inc. Going Public I predict, boredom. SAN FRANCISCO (AP) - Cable television upstart Current Media Inc. plans to go public later this year, giving investors a chance to assess the entrepreneurial skills of its co-founder, former U.S. Vice President Al Gore. In documents filed Monday, the San Francisco-based owner of the Current TV cable channel set a preliminary fundraising target of $100 million for the initial public offering of stock. The final amount will probably change after Current Media's investment bankers gauge the demand for shares in the company. I'll bet it will. The business plan seems to be an Air America trainwreck with a smaller burn rate. To date they've lost $31.9MM, over 17MM of that last year. Only 16% of their revenue is based on advertising though, the rest from cable and satellite fees. You can get in on the ground floor with this one baby. posted by Dave In Texas at 06:20 PM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments Hammersmith Police: "sTevo.That sucks but in a good way.Whittle rocks. ..." Hammersmith Police: "tap. tap. tap.Anyone in there?tap. tap? ..." sTevo: "http://tinyurl.com/7p3gq5qWhy we suck. ..." Hammersmith Police: "Imma have ^^to find ^^etc. ..." Hammersmith Police: "buy cott. I'm in.Imma have the best route to the n ..." 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