From yesterday's Financial Times:
Current Media, the online media company co-founded by Al Gore, the former US vice-president, on Monday said it planned to file for an initial public offering that could see it raise up to $100m.
Of course, it’s never made a profit and the vast majority of its revenue comes from cable companies paying it for the privilege of carrying Current (emphasis mine).:
Current said it took in more than $63m in revenues last year, an increase of 58 per cent from the year before, with most of the revenues coming from so-called “affiliate fees” paid by cable and satellite companies to carry Current’s television content. Advertising accounted for about $9.9m in sales last year.
Current, which was founded in 2002 but has yet to turn a profit, said its television broadcasts, which feature a combination of professional and user-generated content, reach more than 51m households in the US, UK and Ireland.
Current’s net loss last year was $9.7m, an increase over 2006, but less than the $14.2m loss it recorded in 2005.
Paying up the nose with no return on investment to appease the green movement. Sounds a lot like carbon credits.
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Al Gore TV
January 30, 2008 - 13:32 ET by Lame CherryThis is wonderful news as if Al Gore gets into the DNC race by draft he will have to sell his stake and as the company is already in trouble........this means that Rush Limbaugh or some other brainy guy could swoop in and take that Air America clone and make it into an ESPN station worth billions for a few million in investments.
People got burned terribly by Air America and in looking at that goofy Dan Rather cable thing.......that is tanking too so liberals are not keen on investing in MSNBC light.
I hope I have some extra cash on hand then as that would be a great investment.........perhaps Newsbusters a go go would be a featured show.........a show about busting liberals, football, chics like Kiran Chetry's skirt length and other vital and pressing concerns.
Perhaps we could even waterboard the guests and the ones who last longest get a new 3rd world car.
Ain't life great picking up the profits off of liberals.
*HIC IACET ARTORIVS REX QVONDAM REXQVE FVTVRVS
You'd think Current would
January 30, 2008 - 14:21 ET by Jack BauerYou'd think Current would have no problems raisin money.
Jack.... Surely you
January 30, 2008 - 14:27 ET by bigtimerJack....
Surely you jest....
ROFLMAO!
another reason for ala carte cable
January 30, 2008 - 14:25 ET by SouthJersey1953algore's TV station got $63 million from cable fees? Just another reason why we need ala carte cable TV I do not want any of MY money supporting that alarmist.
It's not Right vs. Left; it is Right vs. Wrong
Hmm, interesting
January 30, 2008 - 14:26 ET by Hero SquadHmm, interesting development.
On a completely unrelated note: Can someone explain to me the process on short-selling stock?
*****
"People only insist that a debate stop when they are afraid of what might be learned if it continues." - George Will
short selling
January 30, 2008 - 14:54 ET by johnGshort selling is betting that a stock(or whatever you're shorting) will go down. i would try to explain it, but this much better written that i could do:
http://en.wikipedia....
note: shorting is extremely risky and i would make sure you know what you're doing before you start shorting(especially in these current volatile markets).
Oh, I know it's risky (I
January 30, 2008 - 15:00 ET by Hero SquadOh, I know it's risky (I was just jesting, of course). But in this case, I figured it'd be a lock. :-)
I know that, in a nutshell, you borrow shares from a broker, sell them at the going price, then (hopefully) wait for the price to drop. Once it's (hopefully) down, you buy back the same number of shares, then return the shares you borrowed to the broker and pocket the difference in the price.
Of course, I wouldn't want to bet against the market, though. I'm not George Soros.
*****
"People only insist that a debate stop when they are afraid of what might be learned if it continues." - George Will
forward looking
January 30, 2008 - 14:49 ET by johnGthe reason why a venture like this is worth money is because of future value. clearly there are people who think this will become valuable. investment bankers have different ways to determine FV and price a company(depends on CF, industry group, projected growth, etc). and i'm guessing that's what is happening here.
Don't forget about his
January 30, 2008 - 16:59 ET by FryeDon't forget about his other, more questionable company which sells offsets to the guilt-ridden:
"Al Gore buys his offsets through Generation Investment Management. It's a corporation of which he just happens to be chairman and co-founder.
"...his situation reminds us of an old and successful business model: work people into a lather over a
speculative fear and then start a company from which the frightened and the image-conscious will buy what they believe to be solutions that will fix the problem."
http://www.investors...
This is HDTV! It's got better resolution than the real world!
OK. I want ten thousand
January 30, 2008 - 19:15 ET by Chris NormanOK. I want ten thousand shares and I want to pay in carbon credits. Deal?
Gore's genius
January 30, 2008 - 19:28 ET by nkviking75What a shame this genius didn't get a chance to run the American economy in 2000. </sarcasm off>
When you put the clowns in charge, don't be surprised when a circus breaks out.
So, is Al Gore's company
January 31, 2008 - 09:44 ET by Hero SquadSo, is Al Gore's company running a huge deficit now in the hopes it will build a stronger foundation from which his company will eventually prosper?
*****
" People only insist that a debate stop when they are afraid of what might be learned if it continues." - George Will