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Discovery Pays $70M To Boost Stake In OWN

by TVNewsCheck

Oprah Winfrey is staying on board as CEO of OWN for the foreseeable future — solidifying a new deal that will retain her as CEO of the Discovery Communications-backed network through at least 2025. Simultaneously, Discovery has paid $70 million to acquire an additional 24.5% stake in OWN from the Winfrey-owned Harpo Inc. That will give Discovery 70% of OWN.