HONG KONG (CNNMoney) Pioneering Arab broadcaster Al Jazeera has acquired Current TV, and will use the network's wider distribution avenues to launch a new U.S.-based channel. The takeover will provide Al Jazeera with access to millions of U.S. households, a lucrative market the Qatar-based broadcaster has long coveted. The deal also means the end of Current, the low-rated channel co-founded by former Vice President Al Gore.