03/28/2008 02:46 am ET | Updated May 25, 2011

The Problem With Al Gore's IPO

BusinessWeek's Ron Grover, normally a mild-mannered fellow, rips into Al Gore and the pending IPO of his CurrentTV: Ron's upset about Al's comp package, the two-class structure of Current's stock, and other corporate governance issues.

All worthy concerns. But our bigger worry is CurrentTV's actual business: The cable network has an audience so small that Nielsen doesn't measure it; not surprisingly advertising revenue is pretty small, too. And the much-hyped "interactive" nature of the company isn't significant either. So what is CurrentTV? Basically, a collection of cable distribution agreements.

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