News Corp’s new TV network dubbed MyNetworkTV, which is comprised of English-language versions of telenovelas (like that would work?), is attracting about as many viewers as some of the lowest-rated cable channels. As a result, the network is losing an estimated $2 million a week. “The biggest current challenge we face is turning around MyNetworkTV,” News Corp. President Peter Chernin said in yesterday’s earnings conference call. News Corp. is moving to revamp the network’s programming, so stay tuned. (WSJ sub. req.)
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