Oprah Winfrey has sold the majority control of the Oprah Winfrey Network.
The sale was made to Discovery Communications for $70 million, meaning the company now has 75 percent ownership of the network. Previously, Oprah and Discovery had run the network with joint 50-50 ownership.
While this means Discovery has the majority control, Oprah will still remain on as the chief executive for the network.
“Creating OWN and seeing it flourish, supported by Discovery and a rapidly growing group of the finest storytellers in film and television, is one of my proudest achievements,” Oprah said in a statement.
It will be interesting to see what this means for OWN going forward.