- 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.
Discovery takes majority control of Oprah Winfrey Network
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Warner Bros. Discovery, Inc. |