Oprah Winfrey Paying $43.2M for Stake in Weight Watchers
- 9 years ago
Oprah Winfrey is taking a 10 percent stake in Weight Watchers for about $43.2 million and is joining the weight management company's board.
Weight Watchers International Inc. said in a filing with the Securities and Exchange Commission on Monday that as part of the agreement, Winfrey has given the company the right to use her name, image, likeness and endorsement for the company, its programs, products and services, subject to her approval.
Winfrey is buying about 6.4 million shares of Weight Watchers.
The company's board expands from nine to 10 members with Winfrey's inclusion.
Weight Watcher's shares climbed almost 37 percent in premarket trading.
Weight Watchers International Inc. said in a filing with the Securities and Exchange Commission on Monday that as part of the agreement, Winfrey has given the company the right to use her name, image, likeness and endorsement for the company, its programs, products and services, subject to her approval.
Winfrey is buying about 6.4 million shares of Weight Watchers.
The company's board expands from nine to 10 members with Winfrey's inclusion.
Weight Watcher's shares climbed almost 37 percent in premarket trading.