Entertainment

Discovery Increases Stake in Oprah Winfrey’s OWN to 95%

Discovery now has just under 95% ownership of OWN, the joint venture between Oprah Winfrey and Discovery, Variety has learned.

The company has increased its stake from its prior holding of 73%, according to a person familiar with the matter who says that the gradual increase has long been part of the plan. In return, Winfrey has received more than $35 million in Discovery shares.

Discovery last upped its ownership of OWN in late 2017, paying $70 million for another 24.5% stake from Winfrey’s Harpo.

Harpo, which has over 1.34 million shares of Discovery, also registered in an 8-K filing on Tuesday the option to sell 670,477 shares of Discovery stock. Harpo’s current stake represents less than 1% of Discovery’s Series A common stock.

 




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