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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.


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posted by Dave In Texas at 06:20 PM

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