What's Gore Up To?

The WSJ reports:

Current Media Inc., which operates a cable television network aimed at young adults and was co-founded by former vice president Al Gore, is planning to go public.

The San Francisco-based company filed an initial public offering Monday with the Securities and Exchange Commission to sell up to $100 million in Class A common stock.

The move seems a little desperate:

Last year, Current Media reported a net loss of $9.9 million, widening from a loss of $7.6 million in 2006. At the same time, the company's revenue jumped to $63.8 million from $37.9 million.

Current Media said it plans to use proceeds from the IPO to repay debt, which was $36.5 million as of Dec. 31, and for working capital and general corporate purposes.

Aren't Gore and his pal Hyatt taking from Peter to pay Paul?