By Taryn Finely, huffingtonpost.com
Oprah Winfrey is selling a majority interest in her network OWN to Discovery Communications for $70 million, the Los Angeles Times reports.
OWN had been a 50-50 joint venture between Winfrey and Discovery until the deal, which was announced Monday. The cable giant is acquiring an additional 24.5 percent.
Winfrey will continue to serve as chief executive of OWN, which launched in 2011, through 2025. This is the first time Oprah has sold stock in OWN since its founding.