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Current TV Evaluating Sale Offers

Low-rated network Current TV says it has received three offers in the past year

Current TV says it hasn't put itself up for sale, but is evaluating offers.

"Current has been approached many times by media companies interested in acquiring our company," Current said in a statement. "This year alone, we have had three inquiries. As a consequence, we thought it might be useful to engage expertise to help us evaluate our strategic options."

A Current spokeswoman, who asked that her name not be used, says the company has enlisted its bankers — JP Morgan Chase and the Raine Group — to evaluate the possibility of a sale. The spokeswoman said she did not know who the suitors were or how many of the offers remain on the table.

The network is also considering fundraising with new investors or forming new partnerships, the spokeswoman said.

The New York Post reported Friday that the liberal network founded by former Vice President Al Gore and Joel Hyatt was for sale. But the Current spokeswoman said that the company had not put itself on the block or sought any of the offers.

Current has struggled for viewers since its 2005 debut. Hiring Keith Olbermann last year was expected to give it a ratings jolt, but the combustible host left the network in less than a year after feuding with management.

It has sought to reinvent itself with shows led by politicians and veterans of other networks, including former New York Gov. Eliot Spitzer, former Michigan Gov. Jennifer Granholm, California Lt. Gov. Gavin Newsom, and ex-MSNBC host Cenk Uygur.