Al Gore: “Show me the money!”
June 5, 2015
By Chris Forrester
Back in January 2013 Qatari news channel Al Jazeera controversially agreed to buy CurrentTV from a group of investors including former vice-president Al Gore. The agreed fee was $500 million. The problem is that Al Jazeera had placed around $85 million in a Chancery Court-approved escrow account and neither Gore or his co-founder and former CEO Joel Hyatt can get their hands on the cash.
The argument now comes down to some $65 million in the account and in August 2014 a legal action was started to try and access the disputed funds. Al Gore says that Al Jazeera is trying to obtain a “discount” on its purchase price. Al Jazeera countered with its own lawsuit, denying allegations of fraud and breaches of contract.
The dispute is now in the hands of a Georgetown, Delaware judge.