Oprah sells OWN channel to Discovery
- Thread starter ElectroMan
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SleezyBigSlim
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No that's what she got for selling off the rest of her network to them. And some Discovery stock worth less then 1% of the company. Which could be anything, they probably gave her ass 5 shares or some shytDiscovery is only worth 35 million
A lot of streaming services are going to eventually learn that cold hard lesson. It's rather expensive producing content and also buying the rights to it. As soon as you cancel one show, you better have another one on deck to replace it. Even Netflix eventually learned that you couldn't giving seasons to low rated shows that weren't cheap to produce.
Discovery is only worth 35 million
If Discovery is only worth that much, then how much value does OWN have
this. She never owned her shyt it from the jump and Discovery allowed her to get a cable slot. She should’ve rode her talk show til the wheels fell off
with that said, fukk Oprah
The writer of that article is trashIf Discovery is only worth that much, then how much value does OWN have
I looked at another article
Winfrey opting to receive a $35 million-plus stake.
Oprah Winfrey Gets $35M Stake in Discovery
Oprah Winfrey Gets $35M Stake in Discovery
Oprah Winfrey Steve Jennings/Getty Images
7:47 AM PST 12/22/2020 by Georg Szalai, Alex Weprin
The conglomerate, led by David Zaslav, now holds 95 percent of OWN, with Winfrey opting to receive a $35 million-plus stake.
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. That person said Winfrey elected to swap most of Harpo’s interest in OWN for voting Series A shares in Discovery.
Winfrey continues to serve as CEO and chief creative officer of OWN, though she now owns only a 5 percent stake in it. A rep for Harpo and OWN declined to comment.
The news emerged as Discovery, in a Tuesday securities filing, mentioned that Harpo now owned about 1.34 million shares of Discovery, less than 1 percent of the firm's Class A common stock, and was registering 670,477 of them for possible sale. "Oprah Winfrey has voting and dispositive power over the shares of Series A Common Stock owned by Harpo," of which she is the sole shareholder, it said in a regulatory filing. It added that Harpo does not have to sell all, or even any, of the shares. It is understood that share sales would cover the tax cost of the deal.
At Monday's Discovery stock closing price of $27.37, the 1.34 million shares were worth around $36.7 million.
In 2017, Discovery paid $70 million to acquire an additional 24.5 percent stake in OWN to boost it to 73 percent, but that agreement also took into account net debt at the network, the parties said at the time. Winfrey back then agreed to continue in her role as OWN CEO, with her exclusivity commitment to the network extended through 2025.
OWN had been Winfrey's primary home on television ever since it launched in 2011. However, in June 2018, Apple and Winfrey unveiled a multiyear content partnership that would see Winfrey host and produce TV shows, films and specials for the tech giant's streaming service Apple TV+ in addition to her work for the cable channel.
The news of Discovery's OWN buyout comes as the company is set to launch an international streaming service of its own, Discovery+, in January. That service will compete directly with Apple TV+, though it leans on unscripted programming such as food, home and reality content.
Oprah money might be getting low
I think it’s more of a situation where she is looking to continue cutting her losses in OWN. It’s legit been a failure for her, although I do her credit for being bold enough to try it in the first place.
I’m surprised that she hasn’t completely washed her hands of it by now.
Man y’all gotta read lol.
OWN was a joint venture with Discovery from the jump. In the deal, they had an option to buy percentages of the company up to 2020. It looks like they been using those options. They already owned 73% before this deal. Now they own 95%. Oprah owns 5%.
In the agreement, she had the option to receive shares for discovery buying percentages of the company, so it looks like that’s what happened here. She received 1% of stock, which is currently worth 35 mil.
It’s way more details and I’m not a network contractolgist, but it seems like this wasn’t a good deal for her. She kind of never really owned it cause she agreed to them being able to own it if they want. And looks like she will be fully out in 2025
OWN was a joint venture with Discovery from the jump. In the deal, they had an option to buy percentages of the company up to 2020. It looks like they been using those options. They already owned 73% before this deal. Now they own 95%. Oprah owns 5%.
In the agreement, she had the option to receive shares for discovery buying percentages of the company, so it looks like that’s what happened here. She received 1% of stock, which is currently worth 35 mil.
It’s way more details and I’m not a network contractolgist, but it seems like this wasn’t a good deal for her. She kind of never really owned it cause she agreed to them being able to own it if they want. And looks like she will be fully out in 2025
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Hoodoo Child
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Never heard a nikka say, “ aye bruh turn it to OWN “
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Seems like Oprah could've started a network with more ownership. Maybe it's more expensive than I think.
Damn I guess I kinda assumed she owned the network. But if she’s just getting rid of the little stake she has in the company, guess that’s on us for being uninformed
She saw a failed startup (her network) and sold it. It happens