Oprah Winfrey - Oprah Winfrey Knew Own Wasn't Ready For Launch

Own, a joint venture between the media mogul and bosses at Discovery Communications, went live in January, 2011, five months before Winfrey's long-running talk show wrapped, after 25 years on air.

The star admits she would have seriously reconsidered going into the cable network business had she been more informed about the difficulties and troubles she would encounter.

During an appearance on U.S. breakfast show This Morning on Monday (02Apr12), she said, "The idea of creating a network was something that I'd wanted to do. Had I'd known that it was this difficult, I might have done something else.

"I did not think it was going to be easy... but if I knew then what I know now I might have made some different choices. I would say if I was writing a book about it, I could call the book 101 mistakes."

Detailing the biggest issue, she explained, "Launching when we really were not ready to launch, it's like having the wedding when you know you are not ready and you are walking down the aisle, and you are saying, 'I don't know... maybe we should have postponed it.'"

Comedienne Rosie O'Donnell's talk show became the first scheduling victim when it was scrapped after one series in March, while Winfrey also had to lay off 30 members of staff at the struggling company as part of restructuring measures.