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Oprah Winfrey's new cable network 'to cost $100m' | Investors in Oprah Winfrey's new cable network are revising their contract with the chat show host as the deal is costing more than expected. Discovery Communications has already invested 75
million dollars in launching Winfrey's OWN cable network and it is likely to exceed
the 100-million-dollar budget. With each delay of the launch from 2009 to mid-2010
to January 2011, Discovery has had to form a whole new budget. "We're in the process
of revising that contract," the New York Post quoted the company's chief financial
officer Brad Singer as saying. "The budget likely will go up and the cost to launch
the network will be higher than we had originally contemplated." he added. Peter
Liguori, Discovery Communcations COO, said: "There's been good absolute volume
on the ad front. They're effectively spending in investing in programming. As
we have a little more time for launch, we're able to have a solid library of programming,
and we anticipate a very effective launch." |
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