Seeking to expand its presence in American television, al-Jazeera, the Qatar-owned news network, has agreed to buy Al Gore’s low-rated Current TV, the Wall Street Journal reports.
Financial terms of the deal weren’t disclosed, but a person familiar with the matter said al-Jazeera paid a few hundred million dollars for Current TV. The network, which was co-founded by Mr. Gore and entrepreneur Joel Hyatt in 2005, has recently been struggling with low ratings.
The multimillion dollar deal came after Current rebuffed TheBlaze when it approached the network about buying the channel last year. According to a source close to the negotiations, officials at TheBlaze were told that “the legacy of who the network goes to is important to us and we are sensitive to networks not aligned with our point of view.”