As you may already know, SocialGood.TV is pursuing an acquisition of CURRENT TV. Since the article detailing our bid was published by the Austin American Statesman yesterday, we have been inundated with a healthy flow of messages from well wishers, media, and interested parties that want to see us succeed in our quest. There have also been a number of questions that we felt should be addressed.
Our startup does not presently have the capital necessary to complete a transaction of the size needed to acquire a company the size of Current. After learning Current’s CEO, Joel Hyatt, and Mr. Gore publicly put the cable network on the market, we saw an opportunity that aligned well with our business model and the direction we are headed in. We reached out to a few people in the film, financial and digital communities in my network and bounced the idea of acquiring Current TV and how we could build an audience, increase revenue, and how moving the company from California to Austin would be good for the local economy. The immediate response we received after laying out a basic plan was positive and we were encouraged to proceed. Although we cannot yet disclose who the interested parties are at this time, I can say that the parties at the table have the wherewithal to complete a transaction on this scale and turn Current TV into a major media enterprise an enterprise of good.
The real opportunity we see that will allow us to build an audience and revenue is through the programming. Current TV is currently focused on programming that appeals to a far-left audience. They do focus on causes, specifically clean air and social justice, but they do it in a way that alienates many people who are stuck in the middle of the ideological and political spectrum. They chose to focus more on pushing legislation and spreading messages that are in line with far-left talking points than they are about promoting solutions that have the greatest impact which can also find support from a broad range of people. SocialGood.TV will change this by focusing the programming in a centrist line and promoting people, non-profits, NGO’s like the UN, and companies that are actively working to change things for the better across the globe. Our programming will include more documentaries, reality programming featuring people and groups changing the world, and entertaining educational programming.
In the next three weeks, we have a tight schedule of individual meetings with large financial institutions and media investors, film & studio companies, and other stakeholders that are interested to learn how they can get involved. An exploratory meeting is set for the second week in December with a group of these people after which we will be disclosing more information.
Please use our contact form if you are a reporter and are looking for comment or are interested in adding your company to the list of attendees at our meeting in mid-December. Please understand that we are receiving a large amount of communications and are not able to respond to every request. We will try our best to respond to your requests as soon as possible.
Thanks for all the well wishes.