Discovery Buys Majority Stake in OWN Network from Winfrey

MarketWatch: Discovery is taking majority control of OWN, the cable network it co-owns with Oprah Winfrey. Discovery said it has purchased 24.5% of OWN for $70 million from Winfrey’s company Harpo Inc. Winfrey’s Harpo will still hold a 25.5% stake.