The New York Times reported moments ago:
One of the people with knowledge of the plans said Mr. Olbermann would have an equity stake in Current TV. The people insisted on anonymity because they were not authorized by their employers to comment in advance of the official announcement.
On Monday a public relations agency hired by Mr. Olbermann scheduled a Tuesday morning conference call for an announcement about his next job. “He and his new partners will make an exciting announcement regarding the next chapter in his remarkable career,” the agency wrote in an e-mail. (Continues here)