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Group Led by Al Gore Buys Cable News Channel

Authored by Mark Hefflinger on May 5, 2004 - 3:10am.
Washington, D.C. -- Vivendi Universal Entertainment announced that it has sold its cable news channel, Newsworld International, to an investment group led by former Vice President Al Gore. Financial terms of the deal were not disclosed. Newsworld currently is produced by the Canadian Broadcasting Corp. and accessible by about 17 million North American households. The TV network will be renamed IndTV and target an audience in the 18-35 age group. Gore will serve as chairman of the board and reportedly plans to devote most of his time to the network. Joel Hyatt, an entrepreneur and former finance chairman for the Democratic National Committee, will serve as the network's CEO.
tags: Cable | Al Gore | Groups | News Channel |