Al Jazeera Buys Current TV, Will Begin U.S. Broadcasts
Al Jazeera announced today it will launch a new U.S.-based news channel and that it has bought Al Gore's Current TV. From its press release:
Al Jazeera Media Network also announced that it has acquired Current TV in the United States and that the new U.S.-based news channel will be available on Current’s distribution network when it is launched in 2013. There will be a transition from existing programming until the new Al Jazeera channel begins to air.
The new channel will be headquartered in New York City. In addition to the existing Al Jazeera news bureaus in New York, Washington, D.C., Los Angeles, Miami and Chicago, Al Jazeera will open additional bureaus in key locations across the United States. Al Jazeera’s expansion will double the network’s U.S.-based staff to more than 300 employees.
I like Al Jazeera's reporting and think it will be a welcome addition. It plans to scrap Current TV's current programming. Forbes reports the network paid in the neighborhood of $400 million for Current.
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