Oprah Winfrey’s cable network is finally seeing gains after a rocky two-year start. OWN’s parent company Discovery Communications is reporting a positive cash flow for the network in the second quarter, putting OWN in a position to begin paying down investment loans.
Discovery CEO David Zaslav congratulated Oprah and the team at OWN in a earnings conference call Tuesday, calling it a “significant milestone.” Zaslav also expressed confidence that the network’s cash flow will continue to rise.
The addition of two Tyler Perry shows – “Have and Have Nots” and “Love Thy Neighbor” – have emerged as ratings hits for OWN. Zaslav also announced that the company had signed on new 30 new ad partners. It’s a big turnaround for OWN, which has endured months of upheavals since its launch in January 2011. Staff layoffs and top level firings have been among the network’s setbacks.
Huge Congrats to Oprah for her success!
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