DOVER, Del. — A judge says a trial will be needed to resolve a dispute between former Vice President Al Gore and Al Jazeera America over tens of millions of dollars held in escrow as part of the news network’s $500 million acquisition of Current TV.
Attorneys for Gore and former Current Media CEO Joel Hyatt urged the Delaware judge on Tuesday to rule in their favor without a trial. They said Al Jazeera is wrongfully withholding $65 million that belongs to Current shareholders.
The judge denied their motion, citing disputes regarding language in the merger agreement and whether Al Jazeera’s actions have prejudiced Gore and Hyatt.
The escrow money was set aside to indemnify Al Jazeera for possible claims against Current TV by distributors including DirecTV, Dish Network and AT&T.