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Oprah Winfrey will remain CEO of OWN for the next eight years after signing a new deal with its parent company, Discovery Communications. In addition to locking in O through at least 2025, Discovery also shelled out $70 million to acquire an additional 24.5 percent stake in OWN from Winfrey’s Harpo. Inc.

“Creating OWN and seeing it flourish, supported by Discovery and a rapidly growing group of the finest storytellers in film and television, is one of my proudest achievements,” said Winfrey. “I’m thrilled with the network’s success and excited about this next chapter in our partnership. Together, we’ll continue to inspire our viewers with real-life stories that are emotional and entertaining, connecting them to each other and to their greatest potential.

”The purchase, after factoring in net debt at the network, puts the Discovery stake in OWN at more than 70 percent now, according to The Hollywood Reporter. It represents Winfrey’s first payment from the Harpo ownership stake in OWN in the decade since the joint venture was originally forged. (Winfrey and Harpo retain a significant minority interest.)

“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.,” said Discovery CEO and president David Zaslav.

“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. This transaction allows Discovery and Oprah to unlock more value from our partnership; extends once more her commitment to the network; and lets us continue our strong work together to nourish OWN viewers with the content they love.”

PHOTO: PR Photos

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8 thoughts on “Get That Money: Oprah Winfrey Signs New OWN Deal

  1. Well, do we remember BET and Bob Johnson…either you sell or they will take it from you…Remember, they want to control what program we see or hear …T.V. and Radio..

  2. This doesn’t sound like a win to me. Maybe Ms. O is trying to get out of the business altogether. Honestly, she has more years behind her than in front of her and maybe it’s time for her to enjoy the fruits of her labor and let others take over. Unfortunately, she made this name for herself and black folks see her as their SHERO, she doesn’t have any heirs and it appears no trust in us to continue successfully without her. I hate this deal, but it’s not for me to like, it’s not my money and I don’t benefit from one dime.

    • Blax Fax on said:

      I agree with you. There is surely no “win” there. I tremble to think what may eventually become of this when they own 75% and she only has a 25% influence. Nada. Dismal. Surely there must have been some other option where she could have placed others who can protect her objectives at the helm. Th is does not appear to be a wise move. However, anyone deserves the right to retire — so I do have to also sympathize with her. She surely deserves a rest and respite.

  3. Maybe I can watch the channel without having to pay the Spectrum crooks. Right now, I have not watched OWN since October 2017. I would rather pay a premium like Hulu or Netflix than be forced to pay for cable to watch.

    • leadjustone on said:

      Amen to that! I hate Spectrum too, and got rid of them in July. I must admit, I went through cable withdrawal for a minute, but don’t miss it at all now, and my bank account is so much happier! Love Netflix!

  4. Tim Green on said:

    Why would she want to sell so much of her stake in the company though?? She’s a minority stake holder in a company that bears her name… selling another 25% of her company for “only” 70million doesnt sound like a smart move if you envision it having long term success & growth … but what do i know she’s obviously been making very smart moves all these years

    • I was thinking the same thing. But like you said, hopefully she knows best as she didn’t get where she is today making dumb business decisions. I just wish we didn’t all eventually sell our majority interest in things we own.

      • Blax Fax on said:

        Again I agree with you. Is there no advantage ever for the Black Community in terms of over-arching ownership of anything? Alas,

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