Meanwhile, from the release, some big words: “The announcement comes on the heels of four years of explosive growth for Current Media…The youngest television network ever to win an Emmy Award(R), Current TV recently passed the 60 million cable and satellite television household mark in April, and the successful launch and explosive growth of Current.com enjoys over 7 million unique visitors each month.” Can I laugh? If they were at least sober about the changes, people would believe them more.

When the company initially filed for the IPO last January, it said it would use proceeds to pay down debt and fund general operations. Since then, the market has tanked, and Current Media has run into a bit of a rough spot, eliminating 60 positions in November last year. The company last reported results a year ago, posting a net loss of $7.5 million for the first three months of 2008, compared to a loss of $2.9 million during the same period the year before. Release

Meanwhile, for SpotRunner, this is another blow after its layoffs, and it current lawsuit with investor WPP. Rosenthal had been heading up Spot Runner’s long-planned digital media buying system, Project Malibu. The company has promoted Gus Warren as GM of the Malibu. More details on Warren’s promotion is in this release (PDF)