I have been scouring the internet to find something saying this story is NOT true but it is in fact true. Oprah Winfrey has sold a portion of her network to Discovery Communications for $70 million. What once started as a joint venture (50 – 50 ownership) has now left Oprah with less control over decisions made with 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.
Oprah is still the chief executive for the network, which means she still has a say on major decisions made by the network but we all know shareholders have the final say so.
It’s disheartening because I remember how excited so many of us were to see this black woman not only create her own network but she had the audacity to name it OWN (Oprah Winfrey Network). The wealthiest black woman in America had her OWN. Now less than 10 years later she is a partial owner.
Needless to say, we will all be patiently waiting to see what this means for OWN.
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