Oprah, Discovery Team for New Network

SILVER SPRING/CHICAGO, January 15: Discovery Communications
and Oprah Winfrey have entered into a joint venture for the 2009 rollout of
OWN: The Oprah Winfrey Network, which at launch will have distribution in 70
million U.S. homes, replacing Discovery Health.

The new multiplatform venture aims to “entertain, inform and
inspire people to live their best lives,” according to a joint announcement
today. When it launches next year, OWN will take over the slot currently held
by Discovery Health Channel—which the company says has historically
attracted just 20 percent of the viewership of Discovery or TLC.

Winfrey will serve as chairman of The Oprah Winfrey Network
and the venture will be 50/50 owned by Discovery and Harpo. This is a cashless
transaction and The Oprah Winfrey Network will be an independent company. In
addition to the linear network, the joint venture will also include the
award-winning digital platform Oprah.com.

Winfrey will have full editorial control over the joint
venture and will be responsible for OWN’s programming, branding and creative
vision. Discovery Communications will contribute to the venture the Discovery
Health Channel as well as handle distribution, origination and other
operational requirements for the proposed venture. Both organizations will
contribute advertising sales services to the venture. The search for a CEO to
oversee day-to-day venture operations will begin immediately.

“Fifteen years
ago, I wrote in my journal that one day I would create a television network, as
I always felt my show was just the beginning of what the future could hold,”
said Winfrey, who will serve as chairman of OWN. “For me, the launch of ‘The
Oprah Winfrey Network’ is the evolution of the work I’ve been doing on
television all these years and a natural extension of my show.”

David Zaslav, the president and CEO of Discovery
Communications, added: “There is no stronger voice than Oprah Winfrey in
engaging, motivating and connecting people to live healthier lives. Oprah has
inspired me personally, and through this new venture, Oprah’s talent and drive
will have a dedicated multimedia platform to empower, engage and connect with
people on-air and on-line. At Discovery, our goals are to improve the quality
of the networks while expanding the reach and success of our web presence. This
venture does both, and having Oprah as Chairman and creative leader makes OWN a
very unique property in a crowded media landscape.”

—By Mansha Daswani