Discovery Comm. ups its OWNership

OWN it: Discovery Communications paid $70 million for an additional 24.5% stake in OWN: Oprah Winfrey Network, increasing its stake from 50% to over 70%. Winfrey will continue as CEO, with her exclusivity commitment to the network extended through 2025. “Ten years ago, Oprah and I began to imagine what a network, inspired by her vision and values, could mean to viewers across the U.S.,” said David Zaslav, president and CEO of Discovery. “In an increasingly crowded landscape, OWN has emerged as the leading destination for African-American women and one of the strongest superfan brands across all screens and services.” Wall Street approved – Discovery stock rose over 7% yesterday.

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