Oprah Winfrey buys 10% Stake in Weight Watchers
You may have seen American media proprietor Oprah Winfrey as a talk show host, and now, the 61-year-old is going to try her luck in weight loss firm, Weight Watchers (WTW). The multimedia mogul has bought a 10% stake in the company headquartered in New York City.
Earlier, Weight Watchers confirmed Winfrey’s investment in the company. The international company announced on October 19 that after Winfrey’s investment, the company’s stocks shot up. There are reports that the media proprietor is also planning to purchase another 5% stake in the weight loss company and join its board.
WTW also revealed that it has been planning to expand its brand to offer customers happier and healthier living. While confirming the acquisition, the billionaire TV icon said, “Weight Watchers has given me the tools to begin to make the lasting shift that I and so many of us who are struggling with weight have longed for. I believe in the program so much I decided to invest in the company”.
On October 19, following the acquisition, stocks of Weight Watchers climbed more than 100% and closed at $13.92. Before Winfrey's investment, the company lost more than 70% of its stock value in 2015.
As per reports, the 61-year-old talk show host bought her stock at the weight loss company for about $6.79 per share, which means she invested $43.2 million in WTW. Market experts think that Winfrey will use her stardom in the company meetings and product line.
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