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Al-Jazeera pays $500M for Current TV

January 3, 2013 RSS Feed Print

Current has largely been outflanked by MSNBC in its effort be a liberal alternative to the leading cable news network, Fox News Channel.

Current hired former CNN Washington bureau chief David Bohrman in 2011 to be its president. Bohrman pushed the network to innovate technologically, with election night coverage that emphasized a conversation over social media.

Current TV, founded in 2005 by former vice president Gore and Joel Hyatt, is expected to post $114 million in revenue in 2013, according to research firm SNL Kagan. The firm pegged the network's cash flow at nearly $24 million a year.

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AP Television Writer David Bauder and AP Technology Writer Peter Svensson in New York and AP writer Adam Schreck in Baghdad contributed to this report.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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