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Discovery increases stake in Oprah Winfrey Network

(Reuters) – Discovery Communications Inc said on Monday it has taken an additional stake in its joint venture with TV mogul Oprah Winfrey, increasing its stake to more than 70 percent.

FILE PHOTO: The Discovery Communications headquarters building is seen in Silver Spring, Maryland December 3, 2009. REUTERS/Jim Bourg/File Photo

Discovery paid $70 million to acquire an additional 24.5 percent stake in the Oprah Winfrey Network from Harpo Inc.

Winfrey will retain a minority interest and will continue in her role as the chief executive of OWN.

Reporting by Laharee Chatterjee in Bengaluru; Editing by Maju Samuel

Our Standards:The Thomson Reuters Trust Principles.

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