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Discovery takes majority control of Oprah Winfrey Network

Dec. 04, 2017 2:10 PM ETWarner Bros. Discovery, Inc. (WBD) StockWBDBy: Jason Aycock, SA News Editor5 Comments
  • Discovery Communications (DISCA +5.7%) is ramping up its investment in the Oprah Winfrey network, taking a majority stake in what had been a 50/50 joint venture.
  • Discovery is boosting its share by 24.5% for $70M, taking control of OWN from Winfrey herself, according to reports.
  • Winfrey will retain the title of CEO as well as the significant minority stake. Discovery will now claim the network's results in its financials.

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