Discovery to Give Oprah’s OWN $89 Million More
(New York Times) — Oprah Winfrey’s new network, OWN, will receive a further $89 million in funding from Discovery Communications, Variety reported, citing a Friday regulatory filing. Discovery had previously committed to putting up $100 million in financing the joint-venture, but when it reported its second quarter earnings this month, it said its investment in the launch of the cable network would exceed what had originally been earmarked.
