The New York Post‘s Claire Atkinson and Emily Smith report that Current TV is up for sale. The network is seeking out a company that can help guide any prospective inquiries, according to a statement from Current CEO Joel Hyatt.
“Current has been approached many times by media companies interested in acquiring our company,” CEO Joel Hyatt told The Post. “This year alone, we have had three inquiries. As a consequence, we thought it might be useful to engage expertise to help us evaluate our strategic options.”
Current has struggled mightily in the ratings, even with its coverage of the political conventions and Presidential debates. The channel re-branded as a liberal talk network with the addition of Keith Olbermann last year, and his show was the channel’s highest-rated. Since Olbermann was fired by Current earlier this year, none of its primetime shows have been able to click with viewers.
Current’s most valuable asset its its distribution. Current is in 60 million homes in the U.S. and 71 million homes worldwide. That is valuable real estate, given that new networks take years to build up that sort of distribution. If Current were to be acquired, it is possible it could be to acquire that reach, rather than to maintain the current programming lineup.