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Discovery takes majority control of Oprah Winfrey Network

Published 12/04/2017, 02:10 PM
© Reuters.  Discovery takes majority control of Oprah Winfrey Network
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  • Discovery Communications (DISCA +5.7%) is ramping up its investment in the Oprah Winfrey network, taking a majority stake in what had been a 50/50 joint venture.
  • Discovery is boosting its share by 24.5% for $70M, taking control of OWN from Winfrey herself, according to reports.
  • Winfrey will retain the title of CEO as well as the significant minority stake. Discovery will now claim the network's results in its financials.
  • Now read: Discovery Communications Will Pursue Chip And Joanna Gaines


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