Deals
Oprah Winfrey to Buy 10% of Weight Watchers in Partnership
- Celebrity will join weight-loss company's board of directors
- Winfrey will have option to buy additional 5% equity stake
Oprah Winfrey to Buy 10% Stake in Weight Watchers
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Oprah Winfrey will buy 10 percent of Weight Watchers International Inc. and join its board, giving the struggling provider of weight-loss programs a jolt of star power as it works to fend off cheaper digital rivals.
The shares more than doubled to $13.92 after the company announced the investment, which will come in the form of newly issued stock and include an option to buy an additional 5 percent. As part of the deal, Winfrey also has signed up with a Weight Watchers program and will share her experiences along the way.