Discovery Plus launches next month, and the content of OWN is expected to be part of the new streaming service.
On Tuesday, Oprah Winfrey sold most of her Oprah Winfrey Network (OWN) shares to Discovery Inc. for more than $36 million in stock.
According to Bloomberg, the deal increases Discovery’s stake in OWN to 95%, but Winfrey will hold on to her CEO and chief creative officer positions.
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Trading off the talk show host’s colossal popularity, OWN was co-founded by Winfrey and Discovery in 2011 as a female-focused network.
Efforts to engage a multiracial audience proved difficult when the cable network first hit the airwaves, and the network suffered losses. Since then, OWN’s content has been geared toward African American women, with actor/producer Tyler Perry creating several shows.
Among the shows currently airing on OWN are “Queen Sugar,” “David Makes Man,” “The Haves and the Have Nots,” “Iyanla: Fix My Life,” and “Ready to Love.”
In January, the network will begin airing the former WGN historical drama series, “Underground,” featuring new episode introductions by cast members and behind-the-scenes footage.
Source: Oprah sells majority of OWN for $36 million to Discovery
