Wednesday, January 12, 2011

Corus buys Oprah network, expects premium reaction

Corus Entertainment Canadian believes that advertisers will pay a premium for the star power of the Oprah Winfrey Network. The Toronto-based media company is preparing for the launch of the the network in March, and revealed that it is pricing advertising on the new specialty channel at the same rates it charges for its wildly successful, women-focused W Network. W Network was the most profitable specialty channel in Canada last year, bringing in $41.3-million in profits before interest and taxes for Corus.
“We’re finding a reaction unlike anything we’ve ever seen before, because of the strength of the brand,” Corus chief executive officer John Cassaday told the Globe and Mail's Susan Krashinsky.

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