Is Current TV for sale?
The New York Post reported on Friday that Current TV has put itself up for sale. Current CEO Joel Hyatt told the Post that the cable channel has been approached for acquisition multiple times in the past, and three times just this year.
"As a consequence, we thought it might be useful to engage expertise to help us evaluate our strategic options," Hyatt said.
Current TV, founded by Vice President Al Gore and Hyatt in 2005, is currently embroiled in a nasty lawsuit with its former star host, Keith Olbermann. Current fired Olbermann in March, citing breach of contract. Olbermann sued Current TV for wrongful termination, which led to Current filing a countersuit.
Olbermann and his signature show "Countdown" landed at Current TV in June 2011, after abruptly leaving MSNBC amdist public clashes with network management.
Earlier this week, reports surfaced that Olbermann is eyeing his return to television.