Bad news for Oprah! Her cable network vision and dream, OWN, has been handed devastating financial numbers, according to a piece out from the New York Post!
According to the NY Post: “The losses at Oprah Winfrey’s stumbling cable channel are approaching a staggering $330 million, according to a report over the weekend. And now industry insiders are predicting the Oprah Winfrey Network will not be able to survive another year if it does not find a hit show and make a dramatic turnaround. Discovery, which partnered 50-50 with Winfrey to launch the network and has been underwriting its costs, has invested nearly $600 million in it since 2008, according to an extensive report in Business Week magazine.” David Zaslav, the chief executive officer of Discovery Communications who talked Oprah into the idea of OWN, is famously impatient with money-losing operations within his company. “I really can’t see Zaslav losing this kind of money for much longer,” one longtime business associate said last week.
As for Winfrey, She appeared before major advertisers two week ago to ask for more time! “I am in the climb of my life,” she told them. “I am climbing Kilimanjaro.” Though Winfrey herself has relatively little money invested in the channel, her image as the most successful TV star of her generation is on the line.