(MENAFN) Qatar-based broadcaster Al Jazeera has agreed to acquire US-based Current TV, as it seeks to further strengthen its presence in the US market, Reuters reported.
Terms were undisclosed, but analysts estimated the deal could be worth as much as USD500 million.
The deal will boost Al Jazeera's competition with American news channels like CNN, MSNBC and Fox.
Al Jazeera said that the deal would extend its news services to more than 40 million US households, up from 4.7 million prior to the deal.
Analysts, however, said that the Gulf channel that is seen in more than 260 million homes in 130 countries faces hurdles with US distributors and viewers.
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