Current TV: 'Evaluating Options' Including Possible SaleNetwork says it has been approached with offers 10/26/2012 12:29:27 PM Eastern
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
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.