OWN network $330 million losses

Oprah OWN Losses
From left: Christina Norman, CEO of OWN, Oprah Winfrey, Chairman of OWN and David Zaslav, President and CEO of Discovery Communications, toast the moment of launch in January 2011
Oprah OWN Losses, The losses at Oprah Winfrey’s troubled cable channel are approaching a staggering $330 million, according to a report over the weekend.

Industry insiders believe the channel - the Oprah Winfrey network (OWN) - will not last another year unless they come up with a hit show and make a dramatic turnaround.

Though ratings have seen a slight insurgence thanks to interview program Oprah's Next Chapter, it has stumbled since the get go with ratings of just 308,000 daily.

It is believed shows which do not feature the chat show queen herself are not popular with viewers.

Discovery, which partnered 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 Businessweek magazine.

Since it started on the air in January 2011, it may have lost as much as $330million, according to the magazine. OWN network $330 million losses, OWN Network Fires 30 Staff Members

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 and insiders say he will not put up with the aiing network's losses for much longer.

Winfrey appeared before advertisers two weeks ago to ask for more time, telling them: 'I am in the climb of my life. I am climbing Kilimanjaro.'

Although she doesn't risk losing a lot of money from the channel's failings, Oprah's reputation is at stake.

Over her 39-year career, The Oprah Winfrey Show had as many as 12.5 million viewers. O, The Oprah Magazine had more than two million subscribers. And her Internet site, Oprah.com, draws more than three million unique visitors a month.

Her image as the most successful TV star of her generation is on the line.

E-mails to OWN and Oprah’s production company, Harpo, were not returned yesterday.

In March i was announced that Rosie O' Donnell's talk show The Rosie Show had been axed by the network after only six months.

It debuted with 500,000 viewers but within days fell to half of that.

The TV stars both released statements, with Rosie saying she 'wished the show was able to attract more viewers.'

She added in a statement: 'I loved working with Oprah in the amazing city of Chicago. I was welcomed with open arms and will never forget the kindness of all I encountered.'

In a statement, Oprah Winfrey said: 'I thank Rosie from the bottom of my heart for joining me on this journey. She has been an incredible partner, working to deliver the best possible show every single day.

'As I have learned in the last 15 months, a new network launch is always a challenge and ratings grow over time as you continue to gather an audience.'

However, just a week after they released these statements, it was reported the pair were not even on speaking terms because Rosie was unhappy with the way the press release was worded announcing her show was being unceremoniously dumped.

In February, the media mogul came under fire after she made a controversial bid to resuscitate ratings on Twitter.

Competing for viewers on the same night as this year's Grammy Awards, she took to the micro-blogging site to ask her 9.2million followers: 'Every 1 who can please turn to OWN especially if u have a Nielsen box.'

Read more: http://www.dailymail.co.uk/news/article-2140773/Oprahs-OWN-network-Losses-approach-330m-amid-predictions-axed-year.html#ixzz1un1t08Ib