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From EURWeb:
Discovery Communications on Friday said it will invest an additional $50 million in OWN: The Oprah Winfrey Network this year, particularly in programming, which it said will mean the company will break even on the channel this year instead of turning a profit as it had previously predicted.
According to the Hollywood Reporter, President and CEO David Zaslav said on an earnings conference call that Discovery expects to increase funding to help drive the network, a joint venture with Oprah Winfrey, to longer-term profitability and growth with stronger content.
CFO Brad Singer said Discovery invested an additional $46 million in OWN in the fourth quarter and expects to spend an incremental $50 million on added funding this year beyond its original $189 million commitment to the network. Programming investments will be the focus.
Zaslav said his firm is "confident that we can generate sustained momentum in ratings and reach [operating income before depreciation and amortization] breakeven in 2011," adding he still expects that OWN will be "a very big business" over time. Singer had previously said the network would turn a profit this year.
Read the rest about Oprah Winfrey's OWN Network on EURWeb.com.
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By: Georgia Gray on 2/15/2011 11:15PM
Dear Oprah,please tell me that you received over 120 letters from the teachers and students in fourth grade at Brunson Elementary about February 20,2006. Some male staffer signed the certified package. It was a purple folder compiled by the students inviting you to our small town of 5,000 people to be apart of our annual Pink Tomato Festival in Warren, Arkansas, before I retired as their teacher. I never got any feedback from you or your staff. We were very disappointed that you did not respond or even knew about our letters of invitation which contained lots of information about our small town. The reason I had to retire was due to my husband's open heart surgery on September 19,2005. It has taken me five years to think about writing this letter since it was Valentines Day that we finished those letters. We loved you then and still love you today.
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