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. (Mark Humphrey/Associated Press)
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.
AP
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