Oprah Winfrey has sold most of her stake in OWN: Oprah Winfrey Network to Discovery Inc. in exchange for more than $35 million in the mass media company’s stock.
The deal increases Discovery’s ownership stake in OWN to 95 percent, leaving Winfrey with 5 percent of the network that bears her name. She will continue to serve as OWN’s CEO and chief creative officer.
Related Story: Oprah Winfrey’s Magazine Ending Regular Print Publication
The sale comes as Discovery prepares to launch a streaming service called Discovery+ in January. The platform will reportedly carry dozens of OWN shows, as well as unscripted programming and series with Winfrey at the helm.
Among the shows currently airing on OWN are Queen Sugar, David Makes Man, The Haves and the Have Nots, Iyanla: Fix My Life, and Ready to Love.
OWN was created in 2008 by Winfrey’s Harpo Studios and Discovery as a joint venture. The network officially launched in 2011 and is headquartered in Los Angeles. In 2017, Discovery opted to boost its stake in OWN to 73 percent.
Winfrey, 66, also has a partnership deal with AppleTV+.
Her shows on the platform include The Oprah Conversation, in which she has interviewed President Barack Obama, Stevie Wonder, attorney and Equal Justice Initiative founder Bryan Stevenson, and former NFL linebacker and television host Emmanuel Acho.