According to reports, Gore is meeting with venture capitalists about funding the enterprise, and plans to feature commentators such as the filmmaker Michael Moore, who was booed at this year's Oscars for criticising George W Bush and the war in Iraq, and Molly Ivins, the political columnist.
The satellite news network would enter a crowded market, going up against Fox News, MSNBC and CNN. However, Fox News, owned by Rupert Murdoch's News Corporation, reports that Gore's network is not being set up as a rival to Fox, which is seen as the conservative news service.
The story that Gore was looking to finance a news channel was broken by Time magazine, with reporter Karen Tumulty saying: "At this point, it's very exploratory; certainly both the financial and the practical obstacles of something big like this are enormous."
Gore was the US Vice President under Bill Clinton for two terms, but failed in his challenge to become President when Bush was elected in 2000. Since then, he has stepped largely away from the limelight, while speculation mounts as to whether or not he will run in the next presidential election, to be held in 2004.
A Reuters report says that Gore has enlisted the support of media investor Steven Rattner, the principal manager of the investment firm Quadrangle Group, who helped Gore raise funds for his 2000 presidential bid. Other investors reported to have been targeted by Gore include Brian Roberts, chairman and CEO of Comcast, the cable network company.
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