Oprah Sells Majority Stake In ‘Own’ To Discovery
DISCOVERY BUYS MAJORITY STAKE IN OPRAH WINFREY NETWORK CABLE CHANNEL FROM WINFREY
(CNN) – Oprah Winfrey is selling part of her stake in the “Oprah Winfrey Network” cable channel to Discovery.
Currently, ‘OWN’ is a 50-50 joint venture between Winfrey and Discovery.
But Discovery announced Monday it would pay $70 million to increase its stake to 75%.
Winfrey will remain chief executive and will work exclusively for the channel in the basic cable space through 2025.
In a statement, Winfrey says she is excited about this “next chapter” of her partnership with discovery.