Current TV, the news network owned by formor vice-president Al Gore, saw a drop in its ad revenue for the first quarter of the year.
It seems advertisers are still wary of the relatively new news network that focuses heavily on user generated content to fill its airwaves. Currently the network is carrying $41 million dollars in debt, up $5 million from the end of last year, and now the bad news of their advertising revenue makes the picture even bleaker. According to Joseph Weisenthal of PaidContent, their advertising revenue dropped from $2.64 million to $2.5 million for quarter-over-quarter, signaling the company may fall even deeper in to debt.
All of this information comes out as the company is looking into a potential IPO, so the timing couldn't be worse for them. While the stock offering might help them out with their debt, it doesn't seem likely people will rush to invest a company with slipping revenues.