Current TV has filed for a $100 million IPO, hoping to raise money for new programming and to pay down $35.5 million in debt. According to the SEC filings, Current TV currently has 51 million subscribers, which isn’t shabby. In fact, most of us probably didn’t know that number of people were actually watching. The debt numbers are certainly scary, and in the SEC filing they refer to the business model as “innovative but unproven.” Despite the debt, and taking into consideration the woes of the writer’s strike, Current TV would make a nice acquisition for a network looking to supplement the lack of original programming with user-generated content.

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