Oprah Winfrey Sells Majority Stake Of OWN…For $70 Million

Published: Tuesday 5th Dec 2017 by David

Oprah is making money moves.

Want details on the brand new deal she struck up with the Discovery Channel?

Meet us below…

Discovery Communications purchased the majority share in Winfrey’s thriving OWN network as she sets her sights on pastures new in 2018.

Fans of the mogul know that the Discovery entered a joint venture with her HARPO empire to build OWN.

Now, impressed by its growth, they’ve decided to increase their ownership of it to 70%.

Discovery president and CEO David Zaslav beamed…

Ten years ago, Oprah and I began to imagine what a network, inspired by her vision and values, could mean to viewers across the U.S.In an increasingly crowded landscape, OWN has emerged as the leading destination for African-American women and one of the strongest superfan brands across all screens and services.

How much it cost them to pick up their new shares? $70 million.

Much to Winfrey’s delight the deal will see her continue to run OWN until 2025 as she steers it to higher ground on the wings of the shows ‘Queen Sugar‘, ‘Greenleaf’ and ‘Fix My Life.’

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  1. Casual December 5, 2017

    Get it, Lady O! Harriett, Sojourner, Mary (McLeod Bethune), Madame, Maya — she is the realization of the dreams of our foremothers.

  2. Anne December 5, 2017

    Great news! I love OWN, new programming and old (I watched 227 reruns all weekend)! “Queen Sugar”and Greenleaf are my favs. Plan to give Sweetie Pies a chance this season and still hanging in there with “The Haves and Have Nots” and checking out Iyanla every now and then as well.

    • MUSICHEAD December 5, 2017

      This is NOT great news. You think Discovery will keep all those black shows on the air? This is UPN and CW all over again.

      • Tim Brown December 5, 2017

        Aww man—I hope this does not happen! Devastating 💔

  3. Danyboo December 5, 2017

    Damn oprah we ain’t got no black owned networks anymore mow

    • Cbeylive December 5, 2017

      Ik don’t people understand there is power and old money in owning s*** not selling.

  4. MUSICHEAD December 5, 2017

    I was disappointed to see this. So basically Oprah gave up the majority ownership in her network meaning she’s not really in charge anymore. She has a minor vote in business decisions and has to answer to Discovery now. I wonder if running the network just became too much for her. It’s sad to see black business owners lose or give up their companies.

  5. Jeans December 5, 2017

    I watched 227 all weekend too!

  6. 2bad2bme December 5, 2017

    She just rich and irritating at this point

  7. @Nate December 5, 2017

    Whats 70 mill to a billionare? She just seems over it and wants to be done with the network. Which is crazy considering how much they turned the channel around, especially how it began flopping. I dont watch the network, but I still hear about the shows, so she’s doing good with the material. Too bad, she sacraficed to a big brand w/ probably no interest in keeping the strong black women demographic.

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