After two weeks of speculation, Keith Olbermann announced he will host a deeper nightly hour-long primetime confidence and commentary attend on humdrum TV, the low-rated network co-founded by former Vice general Al puncture. During today's nooner call, the leadership did not specify gladly when the show, billed as an "amplified also stronger" version of Countdown shroud Keith Olbermann, would standing other than to say "later in 2011." Olbermann will besides believe an legal process bet in the camper besides ballyhoo as Chief News Officer, working with Current TV's staff and developing larger content seeing the network.
The disturb comes after a recent announcement that the former ESPN sports anchor-turned-liberal MSNBC commentator had agreed to tomb his latest post in that land of Countdown lie low Keith Olbermann. The open time build also likely allows since MSNBC's rumored non-compete clause to expire, which has barred him from appearing on TV being an indefinite name of time.
"Nothing is more vital to a free America than a free media, and nothing is supplementary intense to my conception of a emancipate media than news produced independently of corporate interference," Olbermann said in a statement. "In Current Media, Al Gore and Joel Hyatt have created the model truth-seeking get-up-and-go. The opportunity to comrade suppress Al, Joel and Mark Rosenthal makes this the most exciting venture in my career."
Originally founded in 2003 owing to a run-of-the-mill hash program, initiation with Keith Olbermann evolved into a left-leaning show that eventually averaged 1 million-plus viewers. Olbermann himself became one of the inimitably recognized liberal commentators in media, and was repeatedly viewed whereas one of the crucial contributors, hard by Rachel Maddow, to MSNBC's name as a energetic outlet.
His departure did not surprise some media pundits, but his brisk sign-off unparalleled Friday blackness caught his loyal followers off-guard, spurring speculation that Olbermann was forced outmost right to growing friction with MSNBC management. Given Comcast's (CMCSA) jewel of set up company NBC Universal, some speculated that Olbermann's leanings and Comcast's reputation due to a conservative liveliness were not a convenient match. (The cable company's 10% stake significance Current TV seems to give credibility to its claims that it had nothing to seal cache Olbermann's departure from MSNBC, which occurred days before Comcast phony administer over NBC Universal.)
According to Politico, Olberman made three campaign contributions to three Democratic candidates -- Arizona Reps. Raul Grijalva and Gabrielle Giffords, for well as Kentucky Senate candidate Jack Conway -- last October. Notably, the maximum donation of $2,400 to Grijalva occurred the aligned day as his appearance on Olbermann's turn out. As a result, Olbermann was suspended minus pay due to NBC's rule castigate employees contributing to political campaigns. The journalistic split could have been the ammunition needed by MSNBC president Phil Griffin and at odds execs to discharge Olbermann.
Others speculated the decision to part with Olbermann was based on economics. Olbermann was reportedly due $17 million over the next two years for his work. Instead, he walked away with a reported $7 million buyout package.
What it means for Current TV
Co-founded by Gore and businessman Joel Hyatt agency 2005, Current TV was originally intended as a public affairs siphon aimed at young Internet-savvy adults that mixed user-generated hilarity cache short segments called "pods." The network claims it's available in 75 million households in the U.S., U.K, Ireland and Italy.
Back in 2007, Current TV floated around the judgment of an IPO, which stalled after the command failed to make a big spatter. According to the railing Street Journal, the company's IPO filings in 2007 revealed that casual Media reported abort revenue of $63.8 million cover just 16% of that seeing advertising. Operations loss that year totaled $6.1 million.
Though the codicil of Olbermann could give hackneyed TV a much-needed public face again advance the land an outlet with unfathomable sleep for him to strut his prickly personality, it's worth noting that Howard Stern's recent contract renewal with Sirius (SIRI) for $400 million -- $100 million less than his original contract five years ago -- has done relatively little to alter Sirius' corporate fortunes to date. Lazard incomparable analyst Barton Crockett told Fortune recently that Stern's presence was next chrgeable for between 1 to 2 million subscribers -- after all a honorable given how much Sirius has to spend to keep him.
"I think from Sirius' perspective, trend costs overall are trending down and Howard Stern's a very big component," Crocket said. "Historically, they've been spending $350 million a trick on programming, of which $80 million in cash was Howard. … If he renounced and he astray all of those subscriptions, you'd have to inferior subscriptions, but you'd also credit to subordinate revenues and costs, which would and be close to awash in terms of earnings."
Though details of Olbermann's deal tuck away usual TV have yet to surface, you can bet he's being paid no insignificant sum, perhaps less than the cipher he received from MSNBC, but Current TV is a far leaner operation to begin disguise. The pump active forward will embody whether Olbermann's arrival translates to a bump in overall viewership -- homely TV brings fame a uninvolved 23,000 prime time viewers a gloom -- and justifies his paycheck. Ultimately, Stern's relative oversight because Sirius could prove a conversant indicator of Olbermann's trajectory, vitally. It remains to serve seen whether resting the future prospects of a media outlet squarely on the shoulders of sole public individual can be a recipe for success.
The disturb comes after a recent announcement that the former ESPN sports anchor-turned-liberal MSNBC commentator had agreed to tomb his latest post in that land of Countdown lie low Keith Olbermann. The open time build also likely allows since MSNBC's rumored non-compete clause to expire, which has barred him from appearing on TV being an indefinite name of time.
"Nothing is more vital to a free America than a free media, and nothing is supplementary intense to my conception of a emancipate media than news produced independently of corporate interference," Olbermann said in a statement. "In Current Media, Al Gore and Joel Hyatt have created the model truth-seeking get-up-and-go. The opportunity to comrade suppress Al, Joel and Mark Rosenthal makes this the most exciting venture in my career."
Originally founded in 2003 owing to a run-of-the-mill hash program, initiation with Keith Olbermann evolved into a left-leaning show that eventually averaged 1 million-plus viewers. Olbermann himself became one of the inimitably recognized liberal commentators in media, and was repeatedly viewed whereas one of the crucial contributors, hard by Rachel Maddow, to MSNBC's name as a energetic outlet.
His departure did not surprise some media pundits, but his brisk sign-off unparalleled Friday blackness caught his loyal followers off-guard, spurring speculation that Olbermann was forced outmost right to growing friction with MSNBC management. Given Comcast's (CMCSA) jewel of set up company NBC Universal, some speculated that Olbermann's leanings and Comcast's reputation due to a conservative liveliness were not a convenient match. (The cable company's 10% stake significance Current TV seems to give credibility to its claims that it had nothing to seal cache Olbermann's departure from MSNBC, which occurred days before Comcast phony administer over NBC Universal.)
According to Politico, Olberman made three campaign contributions to three Democratic candidates -- Arizona Reps. Raul Grijalva and Gabrielle Giffords, for well as Kentucky Senate candidate Jack Conway -- last October. Notably, the maximum donation of $2,400 to Grijalva occurred the aligned day as his appearance on Olbermann's turn out. As a result, Olbermann was suspended minus pay due to NBC's rule castigate employees contributing to political campaigns. The journalistic split could have been the ammunition needed by MSNBC president Phil Griffin and at odds execs to discharge Olbermann.
Others speculated the decision to part with Olbermann was based on economics. Olbermann was reportedly due $17 million over the next two years for his work. Instead, he walked away with a reported $7 million buyout package.
What it means for Current TV
Co-founded by Gore and businessman Joel Hyatt agency 2005, Current TV was originally intended as a public affairs siphon aimed at young Internet-savvy adults that mixed user-generated hilarity cache short segments called "pods." The network claims it's available in 75 million households in the U.S., U.K, Ireland and Italy.
Back in 2007, Current TV floated around the judgment of an IPO, which stalled after the command failed to make a big spatter. According to the railing Street Journal, the company's IPO filings in 2007 revealed that casual Media reported abort revenue of $63.8 million cover just 16% of that seeing advertising. Operations loss that year totaled $6.1 million.
Though the codicil of Olbermann could give hackneyed TV a much-needed public face again advance the land an outlet with unfathomable sleep for him to strut his prickly personality, it's worth noting that Howard Stern's recent contract renewal with Sirius (SIRI) for $400 million -- $100 million less than his original contract five years ago -- has done relatively little to alter Sirius' corporate fortunes to date. Lazard incomparable analyst Barton Crockett told Fortune recently that Stern's presence was next chrgeable for between 1 to 2 million subscribers -- after all a honorable given how much Sirius has to spend to keep him.
"I think from Sirius' perspective, trend costs overall are trending down and Howard Stern's a very big component," Crocket said. "Historically, they've been spending $350 million a trick on programming, of which $80 million in cash was Howard. … If he renounced and he astray all of those subscriptions, you'd have to inferior subscriptions, but you'd also credit to subordinate revenues and costs, which would and be close to awash in terms of earnings."
Though details of Olbermann's deal tuck away usual TV have yet to surface, you can bet he's being paid no insignificant sum, perhaps less than the cipher he received from MSNBC, but Current TV is a far leaner operation to begin disguise. The pump active forward will embody whether Olbermann's arrival translates to a bump in overall viewership -- homely TV brings fame a uninvolved 23,000 prime time viewers a gloom -- and justifies his paycheck. Ultimately, Stern's relative oversight because Sirius could prove a conversant indicator of Olbermann's trajectory, vitally. It remains to serve seen whether resting the future prospects of a media outlet squarely on the shoulders of sole public individual can be a recipe for success.
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