Oprah Sells Part Of Stake In OWN For A Whopping $70 Million

Photo by Alberto E. Rodriguez/Getty Images for Disney

Oprah just got $70 million richer! Winfrey’s OWN network, which launched in 2011, just sold a piece of its stake to a media giant, Discovery Communications.

In a statement picked up by the New York Post, Oprah says, “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.”

Photo by J. Countess/WireImage

This announcement makes Discovery the majority stake holder in OWN, which will now own 74.5 percent of the growing network (its previous stake was 24.5 percent). Oprah will continue to be a minority owner and the company’s CEO through 2025.

OWN is home to few NAACP Image Awards nominated shows, check out who could win at the 49th NAACP Image Awards below, when it airs Jan. 15 when it airs only on TV One.

The Nominees Are In For The 49th NAACP Image Awards