Oprah Winfrey Sells a Significant Portion of Her Network. Could She Be Clearing Her Plate for the Pr
Yesterday it was announced that Oprah Winfrey sold a very significant share in her company, the Oprah Winfrey Network, to it's 50/50 shareholder Discovery Network. The, once even, split is now about 74.5/25.5 giving Discovery any additional 24.5 shares than they had before.
"Under the terms of the transaction, Discovery paid $70 million to acquire an additional 24.5% stake in OWN from Harpo, Inc., after taking into account net debt at the network, increasing Discovery’s ownership stake to more than 70%. This transaction represents Winfrey’s first payment from Harpo, Inc.’s ownership stake in OWN in the 10 years since forming the joint venture with Discovery. Winfrey’s Harpo, Inc. will retain a significant minority interest in OWN and Winfrey will continue in her role as CEO, with her exclusivity commitment to the network extended through 2025."
If you recall, back in 2011 when the Oprah Winfrey show ended, it was said that she was concluding the show to put more focus on the growth of the Oprah Winfrey Network, or OWN. Now that she's selling off chunks of her shares, could it be that she's clearing her plate for a much bigger meal?
In the past, Ms. Winfrey said that she would never run for president but after the last election, she saw things a little differently. Check out the video below to refresh your memory on her response to the 2020 campaign question.
Honestly, I wouldn't even be mad if Oprah ran for president. I think she'd keep the focus on the children, elevating families and putting programs in place to help those who are underprivileged. Would you vote for her if she ran in 2020? Either way, let's hope that this new share agreement doesn't mess with our favorite programming!