International pay TV broadcaster Current TV is eyeing a sale. The company is currently evaluating its strategic options and has hired JP Morgan Chase and the Raine Group to assess its options.
One option is to sell the firm, while it is also exploring strategic partnerships with media companies or a new round of venture capital financing. Current TV was formed in 2005 after former US vice president Al Gore and Joel Hyatt acquired news channel Newsworld International in 2004. It is now owned by Gore, Hyatt, the company’s chief executive, a number of venture capital firms and pay TV firms Comcast and DirecTV.
Hyatt said in a statement, “Current has been approached many times by media companies interested in acquiring our company. This year alone, we have had three inquiries. As a consequence, we thought it might be useful to engage expertise to help us evaluate our strategic options.”
The channel is in around 60 million homes in the United States and is also in a number of territories internationally including the UK and South Africa. Although it started as a user generated channel, it now airs talkshows and documentaries including Joy Behar: Say Anything and What Did I Do Last Night.