The $12 million infusion into Oprah Winfrey’s OWN from partner Discovery Communications has yet to help the cable channel turn a profit, according to the New York Post.
As previously reported, Discovery spent an additional $12 million on its joint venture with Winfrey in the third quarter — however, the network is still a money loser.
David Zaslav, Discovery CEO, remains upbeat on OWN’s prospects, saying that advertisers had renewed deals and that the focus is on adding distribution.
Discovery, spent big on marketing promoting the arrival of Oprah’s “Lifeclass,” at 8 p.m. and the premiere of Rosie O’Donnell’s 7 p.m. talk show in October. The company reported 3 million online streams of the nightly self-help strip fronted by Oprah and comprising refreshed library content.