Al Jazeera America, which was sued last month by former Current TV owners Al Gore and Joel Hyatt, has counter-sued the pair in an ongoing dispute over escrow funds.
Gore and Hyatt sued Al Jazeera America, alleging that the network was improperly withholding tens of millions of dollars placed in escrow when they sold Current TV to the network for $500 million in 2013.
Al Jazeera America says that Gore and Hyatt failed to live up to their agreement to indemnify the network from claims made against Current TV and are therefore not entitled to the money. They also accuse the former owners of “misrepresentations,” and say they had already received hundreds of millions of dollars from the sale of Current TV.
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As I’ve noted before, instead of suing Al Jazeera America over the escrow funds, Gore and Hyatt should be thanking them for taking the foundering Current TV off their hands at a very handsome price and making them very wealthy men.
Photo Credit: Lindsay Beyerstein (Flickr)