• by Wayne Friedman , March 30, 2012

Just weeks before the big upfront advertising market is set to begin, the promising cable news channel Current TV and its high-profile news commentator Keith Olbermann have parted ways.

The longtime former MSNBC on-air news anchor was supposed to have been the new face of a revamped cable news channel. He also had the title of chief news officer of the network.

In a letter to viewers on the network’s Web site on Friday, March 30, Al Gore, co-founder and chairman of the board and Joel Hyatt, co-founder and chief executive officer, said: “We created Current to give voice to those Americans who refuse to rely on corporate-controlled media and are seeking an authentic progressive outlet...

“Current was also founded on the values of respect, openness, collegiality and loyalty to our viewers. Unfortunately, these values are no longer reflected in our relationship with Keith Olbermann, and we have ended it.”

Olbermann responded through Twitter: "I'd like to apologize to my viewers and my staff for the failure of Current TV. Editorially, 'Countdown' had never been better. But for more than a year, I have been imploring Al Gore and Joel Hyatt to resolve our issues internally, while I've been not publicizing my complaints, and keeping the show alive for the sake of its loyal viewers and even more loyal staff…"

Olbermann added:  “… joining them was a sincere and well-intentioned gesture on my part, but in retrospect a foolish one.”

"Countdown" had been averaging anywhere from 200,000 to 300,000 viewers -- well below the numbers obtained when the show aired on MSNBC.

Former CNN news commentator and former New York Gov. Eliot Spitzer will host “Viewpoint with Eliot Spitzer,” at 8 pm -– beginning March 30. He will take the place of “Countdown with Keith Olbermann.” 

Olbermann, who has, for TV executives, been a longtime temperamental talent, ended his relationship with MSNBC in January 2011. He started up “Countdown with Keith Olbermann” in June 2011. 

Almost from the start, the relationship was a rocky one. Rumors surfaced back in January, after Olbermann declined to host special primary election coverage. This followed some frustration over technical difficulties that Current had concerning the show. 

The letter from Gore and Hyatt was focused on some recent changes the network recently announced, including the debut of two new shows: Bill Press in "Full Court Press” and Stephanie Miller's "Talking Liberally.”