Former American Vice President Al Gore is suing Al Jazeera America, accusing it of breach of contract in its $500 million purchase of Gores Current TV cable channel. Gore and his partners agreed to sell Current TV to the Qatari-owned broadcaster last year, but now they are accusing Al Jazeera America of trying to retain […]
Former American Vice President Al Gore is suing Al Jazeera America, accusing it of breach of contract in its $500 million purchase of Gores Current TV cable channel.
Gore and his partners agreed to sell Current TV to the Qatari-owned broadcaster last year, but now they are accusing Al Jazeera America of trying to retain $65m of the purchase money.
In a statement, Gore’s lawyer, David Boies, 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 Currents former shareholders.
A summary of the case, released by Boies, stated that Al Jazeera America was “in express violation of the merger agreement”.
Dawn Bridges, an Al Jazeera America spokeswoman, told the New York Times that the networks outside counsel was reviewing the complaint.
We think it relates to a commercial dispute between former shareholders of Current Media and Al Jazeera America, she said.
We may have further comment once theyve fully reviewed everything.
