SAN FRANCISCO — Cable-television upstart Current Media plans to go public this year, giving investors a chance to assess the entrepreneurial skills of its co-founder, former Vice President Al Gore, below.
In documents filed Monday, the owner of the Current TV cable channel set a preliminary fundraising target of $100 million for the initial public offering of stock. The final amount will probably change after Current Media’s investment bankers gauge the demand for shares in the company.
The level of investors’ interest also will help determine the price of shares sold in the IPO. Although a timetable wasn’t spelled out in the prospectus, Current Media said it hopes to complete the IPO by early May so it can repay a large debt due then.
Current Media is still small, with just $64 million in annual revenue, but the involvement of the former U.S. vice president and Nobel Prize winner ensures the company’s IPO will attract plenty of attention.
The Associated Press
