Current TV, the struggling news/talk channel co-founded by former Vice President Al Gore, is in advanced talks to sell itself to Al Jazeera, the Qatar-based cable news company, a person close to the stituation confirmed.
An announcement regarding a sale could come as early as Wednesday afternoon. The talks were first reported by the New York Times.
Majority owned by Gore and his business partner Joel Hyatt, Current has been on the block for several months. The cable channel, which originaly focused on short-form documentary programs, has in recent years tried to rebrand itself as a news outlet for liberal viewers. The hope was that such a move would bring it more viewers and ad revenue.
However, when the high-profile hiring of commentator Keith Olbermann backfired, so did the channel's hopes of competing with other cable news outlets. Olbermann was pushed out after clashing with management last year.