Al Jazeera, the Arab world’s first independent news network in the region, has acquired Current TV, former U.S. vice president and co-founder Al Gore said Wednesday.
Both Gore—who serves as Current’s Chairman of the Board—and Joel Hyatt—Current TV’s other co-founder and Chief Executive Officer—announced the sale via the network’s Facebook fan page.
“We are proud and pleased that Al Jazeera, the award-winning international news organization, has bought Current TV,” said Gore and Hyatt.
The terms of the deal were not immediately disclosed.
Current TV is available via cable and satellite in 71 million households around the world, 60 million of which are in the United States, their website said.
Al Jazeera is an independent, state-owned broadcaster headquartered in Doha, Qatar.
With the acquisition of Current TV, Al Jazeera will create Al Jazeera America by 2013.
"There will be a transition from existing programming until the new Al Jazeera channel begins to air," the network said in a statement. The network also plans to open a new U.S. headquarters in New York City along with new bureaus "and make significant new hires."
Full text of statement from Current TV:
"We are proud and pleased that Al Jazeera, the award-winning international news organization, has bought Current TV," said Al Gore,co-founder and Chairman, and Joel Hyatt, co-founder and CEO. "Since its founding in 2005, Current has grown into a national network available in nearly 60 million homes, offering thought-provoking commentary and Emmy and Peabody award-winning programming."
"Current Media was built based on a few key goals: To give voice to those who are not typically heard; to speak truth to power; to provide independent and diverse points of view; and to tell the stories that no one else is telling. Al Jazeera, like Current,believes that facts and truth lead to a better understanding of the world around us."
Statement from Al Jazeera Director General Ahmed bin Jassim Al Thani:
"For many years, we understood that we could make a positive contribution to the news and information available in and about the United States and what we are announcing today will help us achieve that goal," said Ahmed bin Jassim Al Thani.
"By acquiring Current TV, Al Jazeera will significantly expand our existing distribution footprint in the US, as well as increase our newsgathering and reporting efforts in America."
Following are some key facts about Current Media:
• Launched in August 2005 by former U.S. vice president Al Gore and co-founder Joel Hyatt.
• Headquartered in San Francisco, California.
• Slogan: “Your World. View.”
• Awarded two Emmy® Awards and the Peabody Award.
• Launched in South Africa in 2010.
Following are some key facts about Al Jazeera Media Network:
• Al Jazeera satellite network launched in 1996 broadcasting just six hours a day.
• Began 24 hour broadcasts on January 1, 1999.
• Al Jazeera English—Al Jazeera’s sister network with a reach of 130 million households in over 100 countries reported on the launch of Current TV in August 2005.
• Slogan: “Setting The News Agenda.”
• "Al Jazeera’s new channel will expand its U.S.-based news operations, production facilities, and staff throughout 2013," the network said in a press kit.
• Has over 3,000 staff around the world including more than 400 journalists from more than 60 countries.
• Most-watched news channel on YouTube.
Peter Paul has been a Toronto and International Headlines Examiner for Examiner.com since 2009. Connect with him on Twitter @PeterPaulX or join his Examiner Facebook fan page.
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