Oprah Winfrey Gets Stake in Discovery as Company Takes 95 Percent of OWN

hollywoodreporter.com:

Oprah Winfrey has taken a stake of $35 million-plus in Discovery Inc. as part of a deal that boosts the factual content giant's holding in OWN, a joint venture with Winfrey's Harpo, sources tell The Hollywood Reporter.

Discovery and Harpo's original deal to form OWN in 2008 included options for Harpo to sell its stake to the content company, and Discovery has been increasing its OWN stake over time.

According to Discovery's 2008 annual report, Winfrey had a put agreement that would require Discovery to buy out a portion or all of her stake in OWN that was set to expire at the end of this year.

The new deal increases Discovery's ownership in OWN from 73 percent to 95 percent, according to a source familiar with the situation.