(Scroll down for video) Former U.S. Vice President and U.S. Presidential candidate Al Gore has sold out the Arab owned Al-Jazeera, according to an official reports in a press release from the company.
Al-Jazeera news channel will now gain ground in the U.S. cable TV space, after it acquired Current TV, increasing its reach by almost nine times to about 40 million households.
With a focus on U.S. News, the network plans to rename the left-leaning news channel that co-founder Al Gore failed to make relevant.
The former Vice President confirmed the sale on Wednesday, saying in a statement that Al-Jazeera and Current TV, shared the same mission which is "to give voice to those not often heard, speaking the truth, to provide independent and diverse points of view and for telling stories that no one else is reporting."
The acquisition increases the reach of Al-Jazeera, beyond a few large metropolitan areas of the U.S., including New York and Washington, where about 4.7 million households can watch Al-Jazeera English.
Al-Jazeera, the Qatar-owned TV channel, plans to gradually transform into a new channel called Al-Jazeera America by adding five to 10 new U.S. agencies beyond the five it has now and hire more reporters.
Al-Jazeera spokesperson Stan Collender said that there is no rules against foreign ownership of a cable channel unlike the strict rules limiting foreign ownership of free on air TV stations. He said the measure is based on demand, adding that 40 percent of viewers on the website of Al-Jazeera in English are from the U.S.
"This is a pure business decision based on known demand," Collender said. "When people see Al-Jazeera, they tend to like it alot," he added.