Community | January 29, 2008 | 5 comments

Current Files for $100M IPO

source: http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20080129\ACQRTT200801291043RTTRADERUS...

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JordanRoth
"In its Securities and Exchange Commission filing, the company stated that, "We believe the combination of our television and Internet platforms creates an immersive and interactive viewer experience for our growing global audienceÃ??"

In 2006 and 2007, Current Media stated that it recorded revenue of $37.9 million and $63.8 million, respectively. It also noted that operating losses were $4.8 million in 2006 and $6.1 million in 2007.

The company did not state how many of the 200 million Class A shares will be sold or an expected price. Besides Gore, shareholders in the company include Blum Capital Partners, Yucaipa Corporate Initiatives Fund I, L.P, DirectTV and Comcast CTV Holdings.

Current Media did not reveal what equity stake Gore, an executive chairman, had in the company. The former VP and Chief Executive Joel Hyatt will control all shares of the Class B stock, which carries super-voting power."
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5 comments // Current Files for $100M IPO

  • belgrade18
  • stardate
    • 0
      stardate  

    • TV is clearly not dead. As the current presidential candidates are proving it every day.

      The Net is still a small force when it comes to mass persuasion.

    • 4 years ago
  • JanforGore
    • 0
      JanforGore  

    • Well, perhpas in time it may transition from broadcast, but I do think that right now it is right to continue its currrent presence both online and in broadcast, especially while this IPO is on. I'm looking forward to seeing what the price per share will be. I would love to be able to have a stake in the company and help it grow because of the innovative nature of its business.

    • 4 years ago
  • JordanRoth
    • 0
      JordanRoth  

    • Maybe it is just me, but I think that Current's online presence is worth more than its broadcast channel. TV is dead. By enabling a Stumbleupon approach to a streaming Video channel through a browser, current could target ads towards individual users. Smart ads, like smart bombs, will probably cost more (more income) and work better (greater RoI for ad purchasers). All of that in addition to being a clearinghouse for young talent (as long as the Current editing staff doesn't exercise too much editorial control) to make ads that work for their social niche, means that there is a lot of future as long as the power of the medium is leveraged well by the suits (without alienating users like MySpace or Facebook.)

    • 4 years ago
  • JanforGore
    • 0
      JanforGore  

    • Fantastic if it provides a true chance for Current to grow in the market which in turn will hopefully expand its message to more people who in turn participate to keep it growing.

    • 4 years ago
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