Report: Oprah Winfrey Network Losses Approach $330 Million
Oprah is reportedly facing some steep financial headwinds as she tries to turn her struggling cable network around.
The woes that have befallen the Oprah Winfrey Network are by now the stuff of legend: the low ratings. The staff losses. The high-profile bombs like “The Rosie Show.” Appearing on CBS News in April, Oprah herself seemed to sum up the dispiriting atmosphere at OWN.
“If I were writing a book about it, I might call the book ’101 Mistakes,’” she said.
One of those mistakes might be the apparently vast sums of money that OWN has bled through since its inception. Bloomberg Businessweek reported last week that the network may have lost a whopping $330 million since it began in 2008. An analyst told the magazine that it was the most “successful failure in television today.”