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| Al-Jazeera buys Current TV in bid to expand in US | Al-Jazeera buys Current TV in bid to expand in US |
| (about 4 hours later) | |
| Al-Jazeera, the pan-Arab news network that has struggled to win space on US cable television, has acquired Current TV, the channel co-founded by former US vice-president Al Gore. | |
| The deal is intended to give Al-Jazeera greater penetration into the US market. It will close Current and replace it with a new network, Al-Jazeera America. Gore will become a member of the new network's advisory board. | |
| Current TV had struggled with viewers but is widely distributed on cable providers and reaches 60 million of the 100 million US households with cable or satellite service. | Current TV had struggled with viewers but is widely distributed on cable providers and reaches 60 million of the 100 million US households with cable or satellite service. |
| But Al-Jazeera America will face hurdles with US distributors and viewers, television industry analysts said. | But Al-Jazeera America will face hurdles with US distributors and viewers, television industry analysts said. |
| One of its distributors, Time Warner Cable, which accounted for about 12 million of those homes, announced late on Wednesday it was terminating its carriage deal with Current. | One of its distributors, Time Warner Cable, which accounted for about 12 million of those homes, announced late on Wednesday it was terminating its carriage deal with Current. |
| "Our agreement with Current has been terminated and we will no longer be carrying the service. We are removing the service as quickly as possible," it said in a statement. | "Our agreement with Current has been terminated and we will no longer be carrying the service. We are removing the service as quickly as possible," it said in a statement. |
| Gore and business partner Joel Hyatt, who created the channel in 2005, confirmed the sale in a statement on Wednesday. The terms were undisclosed. | Gore and business partner Joel Hyatt, who created the channel in 2005, confirmed the sale in a statement on Wednesday. The terms were undisclosed. |
| "Current Media was built based on a few key goals: to give voice to those who are not typically heard; to speak truth to power; to provide independent and diverse points of view; and to tell the stories that no one else is telling," Gore and Hyatt said. | "Current Media was built based on a few key goals: to give voice to those who are not typically heard; to speak truth to power; to provide independent and diverse points of view; and to tell the stories that no one else is telling," Gore and Hyatt said. |
| "Al-Jazeera has the same goals and, like Current, believes that facts and truth lead to a better understanding of the world around us." | "Al-Jazeera has the same goals and, like Current, believes that facts and truth lead to a better understanding of the world around us." |
| Al-Jazeera's reach in the US has struggled to move beyond the few large metropolitan areas, where some people can watch Al-Jazeera English. | Al-Jazeera's reach in the US has struggled to move beyond the few large metropolitan areas, where some people can watch Al-Jazeera English. |
| The network's managing director, Tony Burman, in 2010 blamed a "very aggressive hostility" from the Bush administration for reluctance among cable and satellite companies to show the network. | The network's managing director, Tony Burman, in 2010 blamed a "very aggressive hostility" from the Bush administration for reluctance among cable and satellite companies to show the network. |
| Al-Jazeera has attracted respect for its ability to build a serious news product in a short time. But there may be a culture clash at the network. Dave Marash, a former ABC Nightline reporter who worked for Al-Jazeera in Washington, said he left the network in 2008 in part because he sensed an anti-US bias there. | Al-Jazeera has attracted respect for its ability to build a serious news product in a short time. But there may be a culture clash at the network. Dave Marash, a former ABC Nightline reporter who worked for Al-Jazeera in Washington, said he left the network in 2008 in part because he sensed an anti-US bias there. |
| Current, meanwhile, began as a groundbreaking effort to promote user-generated content, and settled into a more conventional format of political talk television with a liberal bent. But it has largely been outflanked by MSNBC in its effort to be a liberal alternative to the leading cable news network, Fox News Channel. | Current, meanwhile, began as a groundbreaking effort to promote user-generated content, and settled into a more conventional format of political talk television with a liberal bent. But it has largely been outflanked by MSNBC in its effort to be a liberal alternative to the leading cable news network, Fox News Channel. |
| Gore worked on-air as an analyst during its recent election night coverage. | Gore worked on-air as an analyst during its recent election night coverage. |
| Current is expected to post $114m (£70m) in revenue in 2013, according to research firm SNL Kagan. The firm pegged the network's cash flow at nearly $24m a year. | Current is expected to post $114m (£70m) in revenue in 2013, according to research firm SNL Kagan. The firm pegged the network's cash flow at nearly $24m a year. |