West Hollywood News
The Oprah Winfrey Network (OWN) signed a new lease agreement with property managers CIM Group that would bring the now-profitable cable network to a recently built facility called the Formosa South, according to a press release from the CIM Group. The deal would allow the network to use the studios' existing sound stages and production facilities.
The Formosa South facility is the first in a series of new buildings and renovations at The Lot, standing near the studios' newly renovated arrival gate on
OWN has had its shares of troubles when it first launched in January 2011 after Discovery Communications invested $250 million in the new network, according to Forbes. After seeing its inaugural shows fail and many of its staff laid off by March 2012, OWN was able to sign a multi-year deal with famed director Tyler Perry in October 2012, which would eventually bring about some of OWN's strongest original programming in “The Have and Have Nots” and “Love Thy Neighbor.”
Most recently, one of the network's first original shows, “Our America with Lisa Ling” was canceled after five seasons, according to Deadline Hollywood. The final 10-episode season will begin on May 29.
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