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Someone has put a lot of faith in Weight Watchers.
Media mogul Oprah Winfrey reportedly bought a 10 percent stake in the dieting company. Reuters said that the Oprah Winfrey Network (OWN) CEO bought 6.4 million of Weight Watchers’ shares at Friday’s closing price of USD6.79 per share. USA Today wrote that aside from the sizeable USD43.2 million stake, she is expected to get options that would allow her to acquire an additional 5 percent in the company. As a result of her recent investment, she is set to sit in the company’s board.
On the company’s official Facebook page, Weight Watchers announced, "We're thrilled to share some big news today- Oprah Winfrey has joined our Board and is a part owner of Weight Watchers! She's a Member on her own personal journey toward success, and she believes so much in what we do and our mission that she wants to work with us to inspire people around the world to lead healthier and more fulfilling lives. We are thrilled to count one of the world's most inspiring women among our #WWFamily and are so excited for what the future holds! "O" it's an exciting day!"
Shares of the dieting company soared 89.9 percent in pre-market trading on Monday due to the news, Forbes observed.
