Olbermann gloating about impending death of Current TV?
— Keith Olbermann (@KeithOlbermann) April 5, 2012
Taste the schadenfreude. The failed TV anchor gets in a “told ya so” jab as rumors of the demise of Al Gore’s Current TV percolate.
Exclusive: Low ratings could end cable deal for Gore's Current TV (REUTERS) http://t.co/hxx88YZv
— Kerry Picket (@KerryPicket) April 5, 2012
According to three sources with knowledge of the situation, Time Warner Cable Inc’s carriage agreement with Current TV stipulates that, if the left-leaning political news network fails to meet a minimum threshold for overall viewers in a given quarter, financial penalties such as Current TV being required to increase marketing and promotion spending on the cable operator’s systems are triggered.
If Current TV misses the audience benchmark in two consecutive quarters, another clause is triggered that would allow Time Warner Cable to drop the channel. The condition was built into the most recent distribution pact between the two parties, which was signed in 2010.
Reaction on Twitter:
Olbermann slams former employer, Current TV: "If you buy $10M chandelier, should have house to put it in." Also true for stray dogs. #tcot
— Fred Thompson (@fredthompson) April 4, 2012
— Ed Driscoll (@EdDriscoll) April 5, 2012
— Victor Balta (@VictorBalta) April 5, 2012