Net looks for ways ways to raise fresh cash
Current TV is calling on its bankers and advisors at JPMorgan and The Raine Group to explore strategic options, from partnerships and ways to raise fresh cash to a possible sale.
“Current has been approached many times by media companies interested in acquiring our company. This year alone, we have had three inquiries,” the network founded by Al Gore said in a statement. “As a consequence, we thought it might be useful to engage expertise to help us evaluate our strategic options.”
Current, launched in 2005, is keenly aware of its status as a standalone network surrounded by much bigger players, a person close to the company said.
“Around budget season we always think, ‘What do we need to accomplish? How much money do we need to do it.'” The new component here, the person said, is the focus on a strategic partnership.