GORED! – AT 9:22 A.M. ET: And the rich get richer. You'd think former Vice President of the United States Al Gore would have enough self-respect left to avoid this kind of embarrassing, money-grabbing stunt:
Al Jazeera, the pan-Arab news giant, has long tried to convince Americans that it is a legitimate news organization, not a parrot of Middle Eastern propaganda or something more sinister.
It just bought itself 40 million more chances to make its case.
Al Jazeera on Wednesday announced a deal to take over Current TV, the low-rated cable channel that was founded by Al Gore, a former vice president, and his business partners seven years ago. Al Jazeera plans to shut Current and start an English-language channel, which will be available in more than 40 million homes, with newscasts emanating from both New York and Doha, Qatar.
And, get this:
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.
Maybe our fearless media should look into Gore's money-grabbing stunts involving "global warming."
LATE BULLETIN: Time Warner Cable, a huge outlet, which had been carrying Gore's Current TV, has announced that it will not carry the channel now that Al Jazeera owns it.
COMMENT: Al Jazeera is not, in my view, a legitimate news organization. It is affiliated with the government of Qatar, a non-democracy. Several Americans who've worked for the organization have quit in disgust. However, it is considered a darling of the left, and will find a small audience among the true believers.
We hope Al enjoys his millions. He'll apparently sell to anyone.
January 3, 2013