Deals
Current TV Said to Fetch $500 Million From Al Jazeera
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Current TV, the network co-founded by former U.S. Vice President Al Gore, was sold for about $500 million to Al Jazeera, the Qatar-based cable-news channel, according to two people with knowledge of the deal.
The price represents a multiple of the $71 million Gore and his partners paid in 2004, according to a 2008 regulatory filing, for the channel that became Current TV. Gore, chairman, and Joel Hyatt, co-founder and chief executive officer, announced the sale yesterday without providing financial terms.