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Tuesday, 8 May 2012

ROOFLESS CAPITALISM: OPRAH'S O.W.N LOSES $330M: BIT OFF MORE THAN SHE CAN CHEW?

SHE COULD HAVE STOPPED, STILL RICH. BUT SHE DID NOT. IT IS CALLED ROOFLESS CAPITALISM, THE BANE OF MODERN MATERIALISTIC IDEOLOGY. WHERE YOU JUST GOBBLE ON AND ON AND ON...AND GO ON GOBBLING, NO LIMITS. LITERALLY. BUT NOW...

After laying off 30 workers earlier this year, more woes have continue to befall Oprah Winfrey’s stumbling cable channel.
Reports say losses at the cable channel Oprah Winfrey Network (OWN) are now approaching a floundering $330 million.

Media experts are now predicting that OWN ‘will not be able to survive another year if it does not find a hit show’ to rejuvenate the once thriving network.
According to report made available by US publication – BusinessWeek Magazine, US global media and entertainment company Discovery which partnered a 50-50 deal with Winfrey to launch the network have invested $600 million in it since 2008 and have been forced to close down one of thier smaller channels – Planet Green.
I am in the climb of my life. I am climbing Kilimanjaro’, Winfrey told advertisers two weeks ago to, in effect, ask for more time.
The respected TV host and media mogul’s reputation, as that of the Discovery executive who came up with the idea of OWN, currently hang in the balance.

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