Discovery To Invest $50 Million More In OWN: Oprah Winfrey Network
Posted on Fri Feb 11, 2011 08:50 AM PDT

oprahbiopic200.jpgNEW YORK, New York (X17online) - Discovery Communications revealed Friday it will invest an additional $50 million in OWN: The Oprah Winfrey Network, particularly in programming.

President and CEO David Zaslav said Discovery expects to increase funding to help drive the network, a joint venture with Oprah Winfrey, to longer-term profitability and growth with stronger content.

CFO Brad Singer said Discovery invested an additional $46 million in OWN in the fourth quarter and expects to spend an incremental $50 million on added funding beyond its original $189 million commitment to the network. Programming investments will be the focus.

Although OWN currently features a lot of reruns, over the next six to 12 months, original programming will begin to grow stronger as the network progresses.

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