Oprah is making money moves.
Want details on the brand new deal she struck up with the Discovery Channel?Array
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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.’