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.

Subscribe to Campaign from just £57 per quarter

Includes the weekly magazine and quarterly Campaign IQ, plus unrestricted online access.

SUBSCRIBE

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now
Why Cosabella replaced its agency with AI and will never go back to humans
Shares0
Share

1 Why Cosabella replaced its agency with AI and will never go back to humans

In October, lingerie retailer Cosabella replaced its digital agency with an AI platform named "Albert". Since then it has more than tripled its ROI and increased its customer base by 30%.

Just published

More