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Current Blames Economy For No IPO... But, Lack Of Profitability May Have Been A Bigger Issue
from the let's-get-real dept
Last year, when Al Gore's Current Media filed to go public, we couldn't figure out how it could possibly have a successful IPO, unless it came from the strength of Al Gore's name alone. The company wasn't profitable, wasn't receiving very much buzz, didn't seem to do anything all that unique, and its big plans to be a cable channel "for the internet age" hadn't been very successful (the internet stuff was a failure, almost all revenue came from the pure cable side). So, now that the IPO has been canceled, the company is conveniently blaming the economy, but you have to think that the company's actual prospects had even more to do with it than anything else. If the company had actually been doing well, I'd imagine it would actually be a good time to go out, as those with money actually are looking for decent buys.
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Everyone knows it was ManBearPig's fault.
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Youtube for cable?
My problem is that the whole concept of Current is usurped by the fact the the people most likely to watch the station watch Youtube for the same type of content and then some. Content that is searchable and on-demand to boot. That and Current is rarely a base channel for cheap cable subscribers (the younger market to which Current attempts to appeal).
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