San Francisco based Current TV has filed for a NASDAQ IPO. Appears to be a well timed move. They’ve been in business since 2002 and recorded 68% growth in revenue in 2007.

AP reports Current’s outstanding debt and accrued interest to be $36.5M as of 12-31-07. Of interest is their stated intention to use IPO funds to completely retire that debt. The equity sale may leave them with over $50M to fund expanded operations. I assume they’ll also fund growth with a new package of long term debt at a lower rate.

I predict a major international expansion, using London as a platform for north and western Europe, followed soon by expansions to Tokyo and Mumbai.

Reuters reports that former Vice President Al Gore is Current’s owner and executive chairman. No kidding… I doubt I’ve ever seen any mention of Current with seeing Mr. Gore’s name prominently attached. They’ve made smart and effective use of the media – something I suppose the market should expect more of in the future.

[tags]Current Media, Al Gore[/tags]