Current Media, the media consort hardback by past Vice President Al Gore, has cancelled the $100 meg commercialism that it originally announced in Jan 2008.

In a writing submitted early today, Current TV attributed the IPO’s cancellation to the underway economy:

In reddened of underway mart conditions, the Registrant has observed not to travel at this instance with the open substance contemplated by the Registration Statement. The Registrant hereby confirms that no securities impact been oversubscribed pursuant to the Registration Statement and every state regarding the planned open substance has been discontinued. The Registrant hereby informs the Staff that it haw consent a ensuant clannish substance in certainty on the innocuous nurse ordered forward in Rule 155(c) publicised low the Act.

The media consort is prizewinning famous for telegram steer Current TV, which is programme internationally to 59 meg homes with markets in regions including the United States, Italy, and the UK. Current also has a brawny scheme presence, tapping into favourite ethnic media services same Digg and Twitter for primary events same the 2008 presidential election.

The network’s ethnic media efforts during the election were deemed a success by the company, but it was ease impact by layoffs in November, when it said that the commercialism was existence “put on hold”. Current says that there impact hit been no boost layoffs since then, and that the content of the consort has not changed.

Via PEhub

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