BusinessWeek’s Edmund Lee and Andy Fixmer put together a report that suggests Oprah’s failing TV network OWN may be as much as $330M in the hole.
Despite her popularity, the new cable channel attracts less than a 10th of the audience her syndicated TV show used to pull in.
Discovery Communications invested $420 Million into the network and are likely to write off a lot of the loss even if OWN pulls a profit in 2013.
“Winfrey’s gold-plated brand has been tarnished by the network’s slow start, but [David] Zaslav’s [executive officer of Discovery Communications and Winfrey’s partner and half-owner of OWN] bank accounts may have suffered even more,”.
Back in March, OWN laid off one-fifth of her workforce.
Browsing the comments on the BusinessWeek page, you can see that a lot of them are blaming Oprah’s tarnished brand to her supporting Obama in the 2008 Election.