Oprah Buys Stake In Weight Watchers For $43.2M
After nurturing her OWN television network for the past four years, Oprah Winfrey is expanding her business-savvy portfolio to include a new major project.
According to the Associated Press, Winfrey is taking a 10 percent stake in Weight Watchers for close to around $43.2 million and is joining the weight loss and management company's board.
In a filing with the Securities and Exchange Commission by Weight Watchers International Inc., Winfrey has given the company the green light to use her name, image, likeness and endorsement for the company, its programs, products and services. In addition, the media proprietor has the right to use the company's brand and logo for various collaborations, as she's cashing out on nearly 6.4 million shares of Weight Watchers.
This new partnership between Weight Watchers and Ms. Winfrey is a five-year agreement with additional successive one-year renewal terms.
Weight Watcher's has already reaped benefits of the agreement as its shares have increased by 37% in premarket trading.
— Oprah Winfrey (@Oprah) October 19, 2015