Saturday, September 20th12.1°C
23284

Al Gore sues Al Jazeera America for unpaid millions in sale of Current TV

LOS ANGELES, Calif. - Former Vice-President Al Gore is suing Al Jazeera America, saying the news network is withholding tens of millions of dollars that it owes for buying Current TV from him and other shareholders for $500 million last year.

David Boies, Gore's attorney, said in a statement that Al Jazeera America "wants to give itself a discount on the purchase price that was agreed to nearly two years ago." He said the suit was filed in Delaware Court of Chancery on Friday.

Al Jazeera America didn't immediately respond to a request for comment.

The Qatar-owned news channel took over Current TV's signal last August and hired a slew of U.S. TV news veterans like Soledad O'Brien and John Seigenthaler. It is available in nearly 60 million U.S. homes.

Gore and co-founder and former Current TV CEO Joel Hyatt each had 20 per cent stakes in Current, while Comcast Corp. had less than a 10 per cent stake. Another major investor in Current TV was supermarket magnate and entertainment industry investor Ron Burkle.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX15265.35-200.19
S&P CDNX955.06-10.73
DJIA17279.7413.75
Nasdaq4579.789-13.637
S&P 5002010.40-0.96
CDN Dollar0.9126+0.0004
Gold1216.90-10.00
Oil92.45-0.62
Lumber329.00-0.90
Natural Gas3.911-0.064

 
Okanagan Companies
Pacific Safety0.16-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.37+0.05
Cantex0.05-0.01
Anavex Life Sciences0.223-0.0031
Metalex Ventures0.060.00
Russel Metals35.75-1.26
Copper Mountain Mining2.66-0.02
Colorado Resources0.165-0.01
ReliaBrand Inc0.0249+0.0009
Sunrise Resources Ltd0.02-0.005
Mission Ready Services0.29-0.01

 



23104

FEATURED Property
2073351Great price for a fantastic house!!
$459,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Disruptive innovation

Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...


Executors and their duties

There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...


Power-save your way to a down payment

Part 1 of 2 Photo: Thinkstock.com1. Move in with your parents or in-laws Explain that you're thinking strategically in moving back home. The quickest way to get into the housing market is to ma...

_








Member of BC Press Council


22962