OPRAH SELLS MAJORITY SHARES IN OWN

Did you know? World
image_pdf

Oprah sells majority control of OWN in multi-million dollar deal

The queen of all media will stay on as network’s chief executive

(Photo by Jason Merritt/Getty Images)

Oprah Winfrey has sold the majority control of the Oprah Winfrey Network.

The sale was made to Discovery Communications for $70 million, meaning the company now has 75 percent ownership of the network. Previously, Oprah and Discovery had run the network with joint 50-50 ownership.

While this means Discovery has the majority control, Oprah will still remain on as the chief executive for the network.

“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,” Oprah said in a statement.

It will be interesting to see what this means for OWN going forward.

image_pdf
Average Rating
0 out of 5 stars. 0 votes.
Advertisements

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.