The last minute fire sale of Al Gore’s failed Current TV has some side stories almost as entertaining as Gore’s other pet project, “global warming/climate change”.
The New York Times is reporting the transaction between Gore and Al Jazeera was pused through quickly so as to avoid Obama’s “fiscal cliff” tax hikes.
Al Jazeera did not disclose the purchase price, but people with direct knowledge of the deal pegged it at around $500 million, indicating a $100 million payout for Mr. Gore, who owned 20 percent of Current. Mr. Gore and his partners were eager to complete the deal by Dec. 31, lest it be subject to higher tax rates that took effect on Jan. 1, according to several people who insisted on anonymity because they were not authorized to speak publicly. But the deal was not signed until Wednesday.
I think Instapundit’s Glenn Reynolds had the best reaction to this:
That’s Irony #1. Irony #2 is Al Gore walking away with $100 million in dirty oil money. Well, it would be ironic if it weren’t so predictable. Al’s a whore, basically. Gore, I mean. Not Jazeera.
Now then, I am not sure what the counter offer amount was, but new media mogul Glenn Beck had contacted Gore and Current TV offering to purchase the entity, but was rejected…
Before pan-Arab broadcaster al-Jazeera bought Current TV, the fledgling cable news network founded by former Vice President Al Gore, conservative commentator Glenn Beck had pursued purchasing the company — and was rejected.
The Wall Street Journal revealed that when Beck’s TheBlaze TV sought ownership of the Current broadcasting network, the bid was rejected because the principles of Beck’s company did not align with those of Current.
“Other suitors who didn’t share Current’s ideology were rebuffed,” reporters Keach Hagey and John Jannarone wrote in the Wall Street Journal. “Glenn Beck’s TheBlaze approached Current about buying the channel last year, but was told that ‘the legacy of who the network goes to is important to us and we are sensitive to networks not aligned with our point of view,'” according to a person familiar with the negotiations.”
The former vice president confirmed the sale Wednesday that reportedly netted $100 million, saying in a statement that Al-Jazeera shares Current TV’s mission “to give voice to those who are not typically heard; to speak truth to power; to provide independent and diverse points of view; and to tell the stories that no one else is telling.”
Beck confirmed that his bid was rbuffed by tweeting out a link to an explanation on his blog, with the Journal’s reporting embedded.
So, Gore and Co. had more in common with an Arab network that promotes, and gives stage to, radical Islam and anti-Semitism and anti-Americanism than he does with an American businessman who promotes free speech, human rights, freedom, and American patriotism. Remember how we all were relieved moments/days after 9/11/01 when we realized Gore had not won the bazillion recounts in Florida? I’m just sayin’.
However, this is apparently Al Gore’s story for the final sale decision, and he’s sticking to it:
In an email sent to Current TV’s staff, co-founder and former chief executive officer Joel Hyatt describes the selling process he and co-founder Al Gore went through in considering sale to Al Jazeera, acknowledging Current TV was a failed model.
Hyatt points to the Al Jazeera’s many accomplishments, including its global reach and for being the “only news network” that Obama-supporter Colin Powell watches, as factors in their decision.
Well, I am sure Keith Olbermann and Janeane Garofalo have very good prospects for an easy hire into the new ownership’s line-up as anchors … wearing Burqas, of course.