We have such fun times on the GSN boards. One poster had some unusual worries, which I tried to calm...Other poster: What do you think would happen even with a possible upcoming Dancing With the Stars fiasco of toilet ratings GSN (and its parent company, Liberty Media) files for bankruptcy? Would this mean the demise of the cable channel in 2012?
Hey, we got some humor on these boards!
First, Liberty Media is no longer one of GSN's corporate parents. Sony and DirecTV (a spinoff of Liberty Media) own the network. In an agreement between the two in 2011, Sony took day-to-day operational control of GSN and will assume majority ownership of the network over the next three years. (So much for bankruptcy this year.)
Second, GSN's recent ratings - about 300K viewers or a little higher in prime time - aren't spectacular by the network's historical standards. But they won't drive thrifty GSN into the ground. In 2007, for instance, GSN averaged around 250K viewers in prime time and still turned $50 million in positive cash flow.
Third, you're about ten years too late with your concerns. GSN did endure a brush with death in 2000-01, under the ill-fated leadership of Michael Fleming. But Liberty Media took a half-interest in the network and brought in Rich Cronin to clean up the mess. He turned the network profitable, and GSN has been generating positive cash flow ever since.
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