Friday, May 04, 2012

Oprah's OWN Network Set to Lose $142.9 Million

Will Oprah Winfrey lose her OWN Network? The latest reports suggest that with the loss of over $142.9 million dollars in advertising, it may be possible. The Oprah Winfrey Network revealed the figure, and the worst case scenario, is of course, Discovery putting an end to their joint-venture with OWN. The network debuted January 1 of last year, with 80 million homes tuning in, and it actually replaced the Discovery Health Channel. People love Oprah, so everyone figured her new primetime show, Oprah’s Next Chapter, would be a huge hit. SNL Kagan, the investment firm, revealed that there could be a “significant write-down” at OWN for the first quarter of the year. They cited the cancellation of Rosie O’Donnell’s talk show as an end to their attempt to increase ratings. Oprah fired Rosie this week, cancelling her talk show and laying off an additional 30 employees, including executives. There are reports that Oprah is searching for the next star to help save her network, find out who it is.

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