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| Oprah Winfrey takes stake in Weight Watchers | Oprah Winfrey takes stake in Weight Watchers |
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| Oprah Winfrey is buying a 10% stake in the company behind the Weight Watchers slimming business for $43m (£28m) as it seeks to branch out into health and wellness. | Oprah Winfrey is buying a 10% stake in the company behind the Weight Watchers slimming business for $43m (£28m) as it seeks to branch out into health and wellness. |
| Winfrey will take a place on the board of Weight Watchers International in what the company described as a long-term partnership. | Winfrey will take a place on the board of Weight Watchers International in what the company described as a long-term partnership. |
| The former US talkshow host turned media proprietor will also take part in the Weight Watchers programme and “candidly share her experiences and perspective along the way”, it added. | The former US talkshow host turned media proprietor will also take part in the Weight Watchers programme and “candidly share her experiences and perspective along the way”, it added. |
| Winfrey will also advise the company on programme development and future products. | |
| Under the agreement, she will purchase newly issued shares representing a 10% stake in the company and receive options to acquire an additional 5% of the fully diluted shares. | Under the agreement, she will purchase newly issued shares representing a 10% stake in the company and receive options to acquire an additional 5% of the fully diluted shares. |
| Shares in the weight management company jumped 37% to $9.30 in pre-market trading on Monday. | |
| Winfrey will buy nearly 6.4m shares at Friday’s closing price of $6.79 a share for $43.2m, according to Weight Watchers. | |
| If Winfrey buys 15% of Weight Watchers, she will become the second largest shareholder after investment firm Invus Public Equities Advisors LLC, which owned a 51.5% stake as of 30 June. | If Winfrey buys 15% of Weight Watchers, she will become the second largest shareholder after investment firm Invus Public Equities Advisors LLC, which owned a 51.5% stake as of 30 June. |
| Winfrey has often spoken about her struggle with her weight and a thyroid problem that had led her to weigh 90kg (200lb) in 2008. | Winfrey has often spoken about her struggle with her weight and a thyroid problem that had led her to weigh 90kg (200lb) in 2008. |
| She is one of the most popular talkshow hosts in history and one of the US’s most high-profile philanthropists and civil rights campaigners, backing Barack Obama’s campaign for the US presidency. | |
| Winfrey runs the cable network OWN, which she created in a joint venture with Discovery Communications. | Winfrey runs the cable network OWN, which she created in a joint venture with Discovery Communications. |
| Weight Watchers, founded in 1963, provides online subscriptions for weight management and coaching. It has seen its subscriber base dwindle in the face of free mobile apps for weight management and fitness bands such as those made by Fitbit. | |
| The company will expand its business from focusing on weight loss to help people lead healthier lives, its chief executive, Jim Chambers, said in a statement on Monday. | |
| Up to Friday’s close, Weight Watchers shares had tumbled 72.6% this year. | Up to Friday’s close, Weight Watchers shares had tumbled 72.6% this year. |