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By Catholic Online (NEWS CONSORTIUM)

1/4/2013 (2 years ago)

Catholic Online (www.catholic.org)

Timne Warner drops Current TV over deal.

Al Jazeera is coming to America, with plans to reach at least 40 million households. The Qatar-based news network has bought out Current TV, which was founded in part by Al Gore in 2005. The deal is estimated to be worth $500 million.

Oops, Obama gets to keep the lion's share of the profits.

Oops, Obama gets to keep the lion's share of the profits.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

1/4/2013 (2 years ago)

Published in Middle East

Keywords: Al Gore, Al Jazeera, Current TV, payday, taxes, Islam


LOS ANGELES, CA (Catholic Online) - Al Gore confirmed that he and Current TV co-founder, Joel Hyatt, will be paid as a result of the sale, which he announced on Wednesday. It is unclear how much of the money will be paid to Gore himself as the financial details have not been disclosed.

An unnamed person reportedly close to the deal, has leaked to The New York Times that the payday for Gore is around $100 million.

Sources close to Gore also indicated that Gore wanted the deal to close before the inevitable Jan. 1 tax increases, but this did not happen until Jan 2. It seems even the most legendary liberals don't like paying taxes either.

Meanwhile, reaction in the U.S. has been lukewarm.  At least one cable provider, Time Warner, has announced that it will not carry Al Jazeera America, as it will be named. In addition, Time Warner said they are dropping Current TV from their lineup as "quickly as possible" because of the deal.

Al Jazeera likely selected Current TV as a means of penetrating the U.S. market since Current TV, designed to be a liberal mouthpiece, was overrun by MSNBC in that endeavor. With its value to consumers and investors slipping, it was ripe for buyout.

Current TV has suffered from poor viewership ever since it went live.

Without this acquisition, Al Jazeera has only been able to reach around 7 million U.S. consumers.

Al Jazeera has also faced criticism from a variety of directions, which makes the publication, and the deal, suspect to many in the U.S. For example, in 2010, Wikileaks cables revealed that Al Jazeera had close connections to the CIA.  Al Jazeera's director resigned over the disclosed connections.

Al Jazeera has also been accused of promoting the Arab Spring revolutions, which have removed despots only to replace them with Islamic parliaments hostile to Israel. President Obama has not been a particularly vocal supporter of the Jewish state.

However, Al Gore needn't care much about an Islamic-friendly news publication coming to America, after all he should have around $60 million left to spend once Obama takes his cut.

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