×

Discovery Expects Cash From Oprah Winfrey Net to Accelerate

Network sees OWN cabler paying down debt in stronger fashion, says CFO

Cash flow coming from the Oprah Winfrey Network is poised to “accelerate,” Discovery Communications’ Chief Financial Officer Andy Warren said at an investor conference Wednesday.

“We are extremely bullish now on where OWN is,” Warren said. “Oprah is in the right place. She’s dedicated to it. She gives it all her time and attention.”

The cable network, which Discovery owns jointly with Winfrey’s Harpo production company, had a rocky starting process. But in July, Discovery told investors the network, which has taken $510 million in loans from the Silver Spring, Md. , cable programmer, turned cash-flow positive for the first time in the second quarter.

How long will it take OWN to repay its debt to Discovery?  “It’s not forever and it’s not next year,” said Warren, but “you will see an accelerated level of cash flow to us” as affiliate fees rise and ratings increase.

More Biz

  • A police line forbids the access

    L.A. County Orders Closure of Beaches and Hiking Trails

    Those hoping to escape to the beach this weekend after being pent up at home are out of luck. On Friday, Los Angeles County ordered the closure of beaches and hiking trails, hoping to avoid the crowds that could cause the spread of the coronavirus. State and local officials had previously ordered the closure of [...]

  • Viacom HQ LA

    ViacomCBS Sets $2.5 Billion Debt Offering as Company Faces Tough Scrutiny

    ViacomCBS has disclosed plans for a $2.5 billion debt offering, an effort that comes as the newly merged company faces tough scrutiny of its growth strategy and balance sheet amid the coronavirus-related economic crisis. ViacomCBS said it would seek to raise $2.5 billion for cash that may be used to help pay down some of [...]

  • A2IM

    A2IM’s Indie Week and Libera Awards Go Virtual for 2020

    In yet another sign of the times, the American Association of Independent Music (A2IM) today announced that the 2020 installment of its Indie Week conference — the world’s biggest gathering point specifically for the independent music community — is moving online this year, obviously due to the coronavirus pandemic. The event, which also includes the [...]

  • Amber Heard Johnny Depp

    Johnny Depp Allowed to Pursue Defamation Suit Against Amber Heard

    A Virginia judge on Friday refused to dismiss Johnny Depp’s lawsuit against Amber Heard, allowing him to proceed with a claim that she defamed him in a Washington Post opinion piece. In the piece, published in December 2018, Heard alluded to her previous claims that Depp had assaulted her during their marriage, though she did [...]

  • Disney World crowd

    Disneyland and Walt Disney World Now Indefinitely Closed Amid Coronavirus Outbreak

    While Disneyland and Walt Disney World had initially planned to close through March in an effort to prevent the spread of the novel coronavirus COVID-19 and comply with shelter-in-place guidelines, the U.S. Disney parks have now announced that they will “remain closed until further notice.” “While there is still much uncertainty with respect to the [...]

  • Recording Academy Musicares Logo

    Warner Music Group Joins MusiCares’ Coronavirus Relief Fund

    Warner Music Group has made a donation to MusiCares COVID-19 Relief Fund launched last week, CEO Steve Cooper said in a memo to the company’s staff. “We’re backing the brave efforts of medical professionals around the world, as well as helping the musicians hurt the most by this crisis,” he wrote. “We’re making donations to Heart [...]

More From Our Brands

Access exclusive content