Oprah Winfrey’s OWN network is finally turning a profit after months of struggling through layoffs and executive departures.
Discovery Communications, which jointly owns the two-year old channel with Winfrey’s Harpo, said OWN moved out of the red faster than expected as two new Tyler Perry series — “The Haves and Have Nots” and “Love Thy Neighbor” — helped lure viewers.
Discovery CEO David Zaslav said on a conference call with analysts on Tuesday that the network had the “highest growth of any cable network in the second quarter” and that the company had signed on 30 new ad partners.
“As long as we continue to grow our audience, we’re going to find very receptive buyers,” he said.
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