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Current TV Files For IPO
Al Gore's Current TV has filed a prospectus with the SEC to offer a $100 million IPO. J.P. Morgan Securities, Lehman Brothers and Pacific Crest Securities are underwriting the IPO. No word on how many shares Current is expecting to sell or on their expected price.
Current TV currently owes more than $36.5 million in debts and accured interest and the firm is aiming to pay off the debts via IPO. Since Current TV's 2002 founding, the network has yet to make a profit.
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