Al Jazeera America rejected allegations lodged by former Current TV owners Al Gore and Joel Hyatt that they were gored in the $500M sale of their station to the Arab satellite TV network.
Gore/Hyatt charged fraud and breach of contract, claiming they were stiffed $65M.
AJA says "not so," claiming it complied with the sale contract and charging Gore-Hyatt with filing a "preemptive lawsuit and lawyer-driven public relations maneuvers."
The unit of the Qatar-based network said under the deal the sellers had set aside money in an escrow fund.n Al Jazeera America would use that fund to pay damages or settle a third-party suit.
David Boies, Gore and Hyatt's high-profile attorney, has asked the court to order AJA to "stop wrongfully withholding escrow funds" that belong to Current TV's former owners.
Trump Media & Technology Group today reported a $58.2M net loss on $4.1M in 2023 revenues, a disclosure that drove its stock price down 22.6 percent to $47.96.
Barry Pollack, an attorney at Wall Street’s Harris St. Laurent & Wechsler, has registered Julian Assange as a client with the Justice Dept. “out of an abundance of caution.”
Paramount Global to slash 800 jobs in what chief executive Bob Bakish calls part of an effort to “return the company to earnings growth"... Rolling Stone editor-in-chief Noah Shachtman is exiting at the end of the month due to disagreements with chief executive Gus Wenner over the direction the magazine is taking... The New York Times broke the $1 billion barrier in annual revenue from digital subscriptions in 2023... Press Forward is investing more than $500 million to strengthen local newsrooms.
The majority of news articles are read within the first three days of publication, according to a recent report.
The Los Angeles Times gives pink slips to 115 people or 20 percent of its newsroom staff... TIME is also laying off about 30 employees, which is approximately 15 percent of its editorial staff... The Baltimore Banner, which was launched by Stewart Bainum in 2022 after he failed to buy the Baltimore Sun, added 500 subscribers per day in the three days following Sinclair Broadcast Group's deal to purchase the Sun.
Have a comment? Send it to 
No comments have been submitted for this story yet.