Such groveling public support for Obama apparently has a very heavy pricetag.
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 Businessweek magazine.
But since it started on the air in January 2011, “OWN may have lost as much as $330 million,” the magazine reports.The magazine quotes one Wall Street media analyst calling the channel the most “successful failure in television today.”