First the birds and the fish, now Oprah’s powers are dying!
Oprah Winfrey Network’s partner, Discovery Communications, announced the network will break even this year instead of turning a profit.
The company wants to spend more on programming to fuel longer-term growth.
Apparently the network needs $50 million of help.
CFO Brad Singer said Discovery invested an additional $46 million in OWN and expects to spend an incremental $50 million on added funding beyond its original $189 million commitment to the network.
Singer had previously said the network would turn a profit this year.
We have a hunch the O can take the financial hit.
[Image via Matrix Photos.]