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Discovery Boosts Its Stake in Oprah Winfrey Network

  • Cable programmer increases OWN channel interest to 70 percent
  • Deal marks Winfrey’s first payout as part of joint venture
Oprah Winfrey

Oprah Winfrey

Photographer: Paras Griffin/Getty Images North America

Discovery Communications Inc. is paying $70 million to Oprah Winfrey’s Harpo Inc. to obtain a majority stake in their jointly owned cable channel, OWN.

Discovery lifted its holding in OWN to 70 percent from about 45 percent. Winfrey will remain chief executive officer, according to a statement Monday, and will extend her exclusive commitment to the channel through 2025. It’s the first time she’s sold stock in the network since it started a decade ago.