Blog Post

Discovery To Invest Up To $100 Million in Oprah Network; Has Spent $7 Million Till Now

imageThe high-profile launch of “OWN: The Oprah Winfrey Network” in late 2009 has attracted its share of speculation since it was announced earlier this year, including executives, programming choices and finances. The company has already named Robin Schwartz as president, Maria Grasso as SVP of programming, Robert Tercek as president of digital media, among others. But no other details on the finances have been revealed until now.

I found some details in Discovery (NSDQ: DISAB) Communications’ first 10-Q as a newly minted public company. These details after the jump

— It is expected that Discovery Health will be rebranded as the OWN Network in late 2009…meaning a launch in late 2009. Seems a bit too far out from the announcement date.
— Discovery has committed to fund up to $100 million of the venture