Oprah Winfrey buys 10 percent stake in Weight Watchers

Oprah Winfrey has gone from Weight Watchers member to Weight Watchers owner. The media mogul announced today that she has purchased a 10 percent stake in the company.

credit: Jennifer Graylock/INFphoto.com
credit: Jennifer Graylock/INFphoto.com

Winfrey will not only be a new celebrity owner of the company, but will also be a Board member and adviser to Weight Watchers. She bought 10 percent of the company’s shares and an option to buy up another 5 percent of Weight Watchers.

“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,” Winfrey said in a statement. “I believe in the program so much I decided to invest in the company and partner in its evolution.”

“Through our conversations, it became clear that there is tremendous alignment between Oprah's intention and our mission,” Weight Watchers President/CEO Jim Chambers added. “We believe that her remarkable ability to connect and inspire people to realize their full potential is uniquely complementary to our powerful community, extraordinary coaches and proven approach.”

The Wall Street Journal reports that the news sent Weight Watchers shares skyrocketing this morning, providing the company with some much-needed energy. The company’s stock has been tumbling this year, falling 56 percent in 2015 so far because the company is facing lowering membership numbers.

According to the regulatory filing, Winfrey paid $43 million for 6.4 million shares in Weight Watchers.

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