Oprah Winfrey now has a stake in Discovery Inc. as the company increases its stake ownership in OWN Network.
According to The Hollywood Reporter, Winfrey and Discovery’s new deal allows Discovery to own 95 percent of OWN opposed to its former 73 percent. Meanwhile, even though Winfrey now has a 5 percent stake in her company, she will remain OWN’s CEO and chief creative officer. As part of the deal, Winfrey decided to “swap most of Harpo’s interest in OWN for voting Series A shares in Discovery.” In other words, even though she owns less of her own company, she now owns a portion of Discovery as a whole.
According to a 2017 agreement, Winfrey will also continue to work exclusively with Discovery through 2025.
Through her partnership with Discovery, Winfrey has been able to take OWN from the brink and turn it into one of the premier channels for Black content. Her success with OWN has also allowed her to make other business moves, such as partnering with Apple TV+ for exclusive content.