Oprah Winfrey's OWN Turns the Corner Ahead of Schedule NY Post
The cable network OWN has turned an important financial corner for owners Oprah Winfrey and Discovery Communications: It has turned a profit, reports the New York Post.
The network, which launched Jan. 1, 2011, made money in the second quarter, six months before it was expected to go into the black, the story notes.
OWN, which struggled to find an audience in its early days, has since reversed that trend, drawing big ratings for two Tyler Perry shows and big interviews by Winfrey, including one with disgraced cyclist Lance Armstrong. The network's total viewership jumped by 39% during the second quarter, the story notes.
OWN will start paying back Discovery for its investment, the piece adds.