BusinessWeek’s Ron Grover, normally a mild-mannered fellow, rips into Al Gore and the pending IPO of his CurrentTV: Ron’s upset about Al’s comp package, the two-class structure of Current’s stock, and other corporate governance issues.
All worthy concerns. But our bigger worry is CurrentTV’s actual business: The cable network has an audience so small that Nielsen doesn’t measure it; not surprisingly advertising revenue is pretty small, too. And the much-hyped “interactive” nature of the company isn’t significant either. So what is CurrentTV? Basically, a collection of cable distribution agreements.
Those deals are certainly valuable, but someone who was really interested in maximizing their value could do a lot more with them — like, say, attract an audience. Until Al and his cohorts prove that they’re willing and able to do that, we’d steer clear of this one.
See Also: Current TV: Losing Money, Needs Viewers