Mere days after its high-profile launch of the Oprah Winfrey Network,
Discovery Communications chief financial officer Brad Singer said the
network should turn a profit this year.
OWN launched on Jan. 1 and averaged more than a million viewers in its first day.
Singer, speaking at the Citigroup Entertainment, Media &
Telecommunications conference in Scottsdale, Ariz., said despite losses
in its development years, the network should be "EBITDA positive" in
2011, referring to earnings before interest, taxes, depreciation and
amortization, a metric that measures cash flow.
Discovery first announced its joint venture with Winfrey in 2008,adding that OWN would take the place of its Discovery Health network. After some delays - OWN was first expected to launch in late 2009 - Discovery unveiled the channel on Jan. 1 to about 85 million homes.
Click here to read the full article on Multichannel.com.
