On Wednesday, former vice president Al Gore announced that he and businessman Joel Hyatt sold the financially troubled Current TV, a progressive media company, to Al Jazeera, a pan-Arab news channel based in and owned by the government of oil-rich Qatar.
Although exact financial details weren’t disclosed, insiders put the sale price at approximately $500 million, with Gore pocketing $100 million due to his 20 percent interest in the company.
Carter Eltzroth, writing for the Washington Free Beacon, indicated that Hyatt praises Al Jazeera in an email announcement of the sale to Current TV’s employees, “but fails to mention that the news network is considered by some a political and diplomatic tool for the oil-rich monarchy. Drivers in Qatar currently pay about $1 per gallon at the pump, due to massive oil subsidies handed down by the government.”
Al Gore is a major proponent of enacting legislation designed to curb carbon emissions through the increasingly limited use of fossil fuels — oil.
The new owners plan to reformat the network and call it “Al Jazeera America.” Al Jazeera literally means, “the island.”
According to a CBS News account, Time Warner Cable Inc., the nation’s second-largest cable TV outlet, announced that it was dropping Current TV due to its sale to Al Jazeera.
“Our agreement with Current has been terminated and we will no longer be carrying the service. We are removing the service as quickly as possible,” the company said in a statement.
In addition, Brian Stelter, writing for The New York Times, disclosed a tidbit of Gore’s liberal hypocrisy:
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.
Finally, The Wall Street Journal reported Wednesday that “Glenn Beck’s the Blaze inquired about buying Current TV last year, but was rejected due to ideological differences. Current leadership told the Blaze at the time that ‘he legacy of who the network goes to is important to us.’ Beck confirmed the inquiry late Wednesday.”
As revealed in an excerpt of their memo below, Current leadership apparently has no such “ideological differences” with Al Jazeera, which gained notoriety when it reportedly aired videos of a triumphant Osama bin Laden after the Sept. 11 attack on the World Trade Center.
From: Joel Hyatt
Date: January 2, 2013, 6:36:46
Subject: BIG NEWS FOR THE NEW YEAR!
Al and I are thrilled and proud to announce that a few moments ago Current was acquired by Al Jazeera, the award winning international news organization.
When considering the several suitors who were interested in acquiring Current, it became clear to us that Al Jazeera was founded with the same goals we had for Current: To give voice to those whose voices are not typically heard; to speak truth to power; to provide independent and diverse points of view; and to tell the important stories that no one else is telling. Al Jazeera, like Current, believes that facts and truth lead to a better understanding of the world around us.
The entire memo may be read at The Washington Free Beacon.