Oprah Winfrey sells most of OWN stake to Discovery for $36 million

Oprah Winfrey sold most of her stake in the OWN cable channel to its majority owner, Discovery, for more than $36 million in stock.

Winfrey’s company, Harpo, filed to sell half of the 1.34 million shares received in the transaction, according to a regulatory filing Tuesday.

The deal boosts Discovery’s stake in OWN to 95 per cent, according to a person with knowledge of the matter, an increase from more than 70 per cent reported in 2017. The channel was co-founded by Discovery and the longtime talk show host in 2011 as a female-focused network, trading off of Winfrey’s huge popularity.

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