Oprah is cashing in on her now successful OWN Network as it’s parent company Discovery Communication has paid $70 million to Oprah Winfrey’s Harpo, Inc. to acquire an additional 24.5% stake in the companies’ bringing their share to more than 70% of the network.
No need to worry just yet Oprah will still keep a “significant minority interest” and remain on as CEO until 2025.
“Creating OWN and seeing it flourish, supported by Discovery and a rapidly growing group of the finest storytellers in film and television, is one of my proudest achievements,” said Winfrey. “I’m thrilled with the network’s success and excited about this next chapter in our partnership. Together, we’ll continue to inspire our viewers with real-life stories that are emotional and entertaining, connecting them to each other and to their greatest potential.”
For more details head over to Deadline.com