Tuesday, April 14, 2009

Al Gore, No Score: "Current Media pulls IPO, citing poor conditions"

I'm sure Big Al will be okay.
From MarketWatch:
Current Media Inc., the television and Internet firm co-founded by Al Gore with the intention of "democratizing media," has shelved plans for an initial public offering of its stock.
San Francisco-based Current said in a public filing on Friday that it has requested the withdrawal of an IPO registration statement initially filed in January of 2008.
"In light of current market conditions, the registrant has determined not to proceed at this time with the public offering," the filing read....MORE
From the company's hometown paper, the San Francisco Chronicle:
...The withdrawal comes 14 months after Current, the parent of Current TV, filed for a $100 million IPO that would have funded the company's expansion and opened the door to a potential windfall for Gore and his partner, CEO Joel Hyatt....