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.

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