Corus brings Oprah to Canada
The queen of daytime talk's new network will join the company's portfolio of specialty channels for women. (Note: a correction has been filed to this story.)
A bullish Corus Entertainment is to tell analysts Wednesday to expect improving margins and increased programming, including launching OWN: The Oprah Winfrey Network in Canada early next year.
‘For fiscal year 2011, we are targeting consolidated segment profit of $285 to $295 million and free cash flow in excess of $100 million as we execute on the exciting plans we have in place to grow Corus,’ John Cassaday, president and CEO of Corus, said in a statement ahead of the investors day presentation and his fiscal 2011 forecasts.
‘Our investment in technology and infrastructure provides us with a robust platform for future growth and margin expansion across our business,’ Cassaday added, as Corus launches a new corporate and production headquarters on Toronto’s waterfront.
And as his company continues to focus on female-skewed TV programming, Corus announced Wednesday that it has licensed Oprah Winfrey’s OWN, her cable network joint venture with Discovery Communications to launch in January 2011.
The US channel, to target a core of women viewers aged 25 to 54 years, will feature programming like The Rosie O’Donnell Show, Behind the Scenes: The Oprah Show Final Season, Oprah Presents: Master Class, In the Bedroom with Dr. Laura Berman, The Miracle Detectives and Oprah’s Next Chapter.
Yesterday, Media in Canada incorrectly stated in this story that Food Network Canada and HGTV Canada were ‘scheduled’ to be acquired by Corus as part of the Shaw-Canwest acquisition. Contrary to media reports that speculated that certain non-core Canwest assets may subsequently be acquired from Shaw, Canwest has confirmed that there are no plans in place for the transfer of Food Network Canada and HGTV Canada to Corus under the deal.