Monday, January 28, 2008

No wonder Al Gore not interested in being president, he is too busy stacking chedder

Current Media, the youth-oriented cable channel founded by former U.S. Vice President Al Gore and Joel Hyatt, has filed for a $100 million initial public offering.

The company aims to trade under the Nasdaq symbol CRTM; neither share prices nor number of shares have been disclosed.

Acknowledging that it has "a history of losses," relies on an "unproven media model," and had an accumulated deficit of $31.9 million at the end of 2007, Current Media is nevertheless pushing forward in the hopes that it will be able to better cover expenses as a public company. Revenues for 2007 were $63.7 million.

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