Gore sues Al-Jazeera over TV deal

Comment on this story
iol news pic Al Gore Reuters Former US Vice President Al Gore speaks at the South by Southwest Interactive festival in Austin, Texas, in this file photo. REUTERS/Gerry Shih/Files

Washington - Former US vice president Al Gore filed a lawsuit Friday claiming the owners of Al-Jazeera America improperly took back $65 million placed in escrow for the sale of his cable channel.

The lawsuit filed in Delaware Chancery Court says that Al-Jazeera, owned by Qatar's royal family, failed to honor the contract in the sale of his cable channel, Current TV.

“Al Jazeera America wants to give itself a discount on the purchase price that was agreed to nearly two years ago,” Gore's lawyer David Boies said in a statement.

“We are asking the court to order Al-Jazeera America to stop wrongfully withholding the escrow funds that belong to Current's former shareholders.”

Boies said the full complaint was sealed at the request of Al Jazeera but that Gore and his business partner Joel Hyatt believe it should be made public.

In the case summary from court documents, Gore and Hyatt allege fraud and breach of contract.

“Rather than return the $65 million remaining in the escrow, as it was obligated to do, defendant, on June 27, 2014, submitted five claim certificates through which it attempts to manufacture several ways to retain all of the escrow balance for itself in express violation of the merger agreement,” said the summary.

Al-Jazeera America, which launched its news channel a year ago, did not immediately respond to an AFP query on the suit.

The terms of the purchase, which was announced in January 2013, were not made public, but media reports say it was for some $400 million.

Sapa-AFP


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.