Current TV up for sale

Struggling youth-focused cable TV broadcaster Current TV is reportedly up for sale. Current TV had already trimmed back its international operation in order to cut costs. BSkyB cut its funding, for example, back in January 2012 and the channel closed its European operation in March. The channel launched in the US in August 2005, and was backed by former Vice President Al Gore, who used the channel to voice his concerns about global warming and other environmental issues.

“Current TV has been approached many times by media companies interested in acquiring our company,” CEO Joel Hyatt told The New York Post. “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 channel has value if only because of its 60 million cable homes which generate around 12 cents per home, per month, or about $82 million a year. Additionally, SNL Kagan says the channel earned advertising revenue in 2011 of an estimated $16.9 million.

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