Oprah's OWN Network Loses $330 Million
Oprah Winfrey's new cable network OWN is in financial freefall. It's lost $330 million so far and counting.
Oprah woke up this morning to two hard-hitting reports in the nation's leading business publications—The Wall Street Journal and Bloomberg Businessweek.
CNN's Ali Velshi told INSIDE EDITION, "Some analysts have said, if they don't start to do something properly in 2012 they'll just ultimately have to go off the air."
Businessweek says so far, "It hasn't been a winning investment...(and) may have lost as much as $330 million."
The Wall Street Journal says the network is "struggling."
Right now, OWN is averaging just 326,000 viewers during Primetime. Compare that to the 12 million people who tuned in every day to her legendary afternoon talk show at the height of it's popularity.
Oprah recently told CBS This Morning that it's been much harder than she thought.
"Had I known that it was this difficult, I might have done something else," Oprah said.
INSIDE EDITION asked another legendary tycoon, Donald Trump what advice he has for Winfrey. Trump said, "She is a winner. She will turn it around. She will make it good. You just wait."
Both Businessweek and The Wall Street Journal point to some bright spots. OWN scored huge ratings when Oprah interviewed Whitney Houston's daughter Bobbi Kristina. And the network has seen a recent rating tick up with Oprah's Next Chapter, airing on Sundays.
Lots of savvy people say don't count Oprah out yet.
Trump said, "Oprah knows what she needs to do. Nobody is better at it than Oprah, and I think she's got a plan. I think she always expected something like this. It takes a while to get something like that going, and I believe that she'll turn it around and make it really something special."