Current TV: 'Evaluating Options' Including Possible Sale

Network says it has been approached with offers

By MCN Staff -- Broadcasting & Cable, 10/26/2012 12:29:27 PM

Current TV, mostly confirming an item in Friday's New York Post, said it has "activated" its bankers into exploring possible strategic options that could include a sale of the 59-million subscriber network.

The programmer, whose owners include Joel Hyatt and former Vice President Al Gore, 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 investment bankers are JPMorgan and the Raine Group, which also will explore possible new sources of funding or strategic partnerships, someone familiar with the network said.