Discovery Communications is paying $70 million to take a majority interest in OWN: Oprah Winfrey Network.
Until now, OWN had been a 50-50 joint venture between the television star and the cable programming giant. The deal, announced Monday, increases Discovery’s ownership stake in the basic cable channel by an additional 24.5% to nearly 75%.
The transaction marks the first time that Winfrey has taken money out of the venture. The channel launched in 2011.
Winfrey, however, will continue to ser
