Oprah sells majority shares of OWN to Discovery No description found
Oprah Winfrey is selling part of her stake in the Oprah Winfrey Network cable channel to Discovery.
Currently, OWN is a 50-50 joint venture between Winfrey and Discovery, but Discovery announced Monday it would pay $70 million to increase its stake to 75 percent.
Winfrey will remain chief executive and will work exclusively for the channel in the basic cable space through 2025.
In a statement, Winfrey says she is excited about this "next chapter" of her partnership with Discovery.
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