Discovery Increases Stake in Oprah Winfrey Network to 70%
Discovery Communications Inc. (NASDAQ:DISCK) has increased its stake in its joint venture with the Oprah Winfrey Network to over 70%.
Discovery paid $70 million in order to acquire an additional 24.5% stake in Harpo Inc.’s Oprah Winfrey Network.
Winfrey will still be retaining her minority interest in the Network and will continue on as its chief executive, extending her commitment to the Network in 2025.
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