Discovery Communications will increase its funding commitment to the forthcoming Oprah Winfrey Network -- set to launch by Jan. 1, 2011 -- from $100 million to $189 million, according to a regulatory filing.
As part of an amended agreement, Winfrey has agreed to increase her on-air commitment to OWN, including hosting or starring in a show to air on OWN, Discovery said in an 8-K filing Friday. Discovery previously announced that Winfrey would be featured in a primetime travel series, Oprah's Next Chapter, to air two or three times weekly starting in late 2011.
OWN, which was originally to have launched last year, has encountered delays since Discovery and Winfrey announced the venture in January 2008.
The additional funding will be in the form of a revolving loan from Discovery and/or debt financing from a third-party lender to OWN, according to the 8-K. In addition, the OWN joint venture was granted the right to pursue distribution in the United Kingdom and Canada, according to the filing.