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Bloomberg

Al Gore Sues Al Jazeera

Aug 15, 2014  •  Post A Comment

Former U.S. Vice President Al Gore has filed a lawsuit against the news service Al Jazeera. Bloomberg reports that Gore claims “the satellite news provider owned by the Qatari royal family owes him and a partner $65 million from a deal to buy his network, Current TV.”

The report adds: “Gore, 66, and Joel Hyatt, another former Current TV owner, accused Al Jazeera American Holdings I Inc. of fraud and breach of contract and are seeking undisclosed damages in a sealed complaint filed today in Chancery Court in Wilmington, Delaware. The men alleged that Al Jazeera illegally tried to seize $65 million in escrow funds tied to the $500 million buyout.”

In a statement, David Boies, an attorney for Gore, said: “Al Jazeera America wants to give itself a discount on the purchase price that was agreed to nearly two years ago. We are asking the court to order Al Jazeera America to stop wrongfully withholding the escrow funds that belong to Current’s former shareholders.”

Bloomberg adds: “Buying Gore’s channel and rebranding it gave Al Jazeera America access to about 43 million U.S. homes. Gore was to make an estimated $100 million on the sale of the network, which he helped to start in 2004. After debt, he was to gross an estimated $70 million for his 20 percent stake, people familiar with the transaction said last year.”

A spokeswoman for Al Jazeera said the network’s attorneys were examining the lawsuit.

al gore

Al Gore

2 Comments

  1. It would be such a shame if he gets swindled after selling his cable network to 9/11-sympathizers.

    • C’mon, Doug. It’s just business. Capitalism at work and all. He can sell to whomever he likes, can’t he?

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