Oprah to buy 10-percent stake in Weight Watchers

Oprah Winfrey and Weight Watchers global, Inc.

Weight Watchers chair Ray Debbane said: “Weight Watchers and Oprah Winfrey make a powerful combination, Oprah is a force of nature in connecting with people on a very personal level to live inspired lives”.

Weight Watchers posted on Facebook, “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!”

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.

The New York-based company’s board expands from nine to 10 members with Winfrey’s inclusion.

Weight Watchers (WTW) concurrently announced an expansion of its brand beyond a pure focus on weight loss to a general emphasis on healthier, happier living.

Shares of Weight Watchers had slid 73 percent this year through last week.

Entertainer and producer Oprah Winfrey arrives on stage to introduce a clip from her Best Feature nominated film “Selma” at the 2015 Film Independent Spirit Awards in Santa Monica, California February 21, 2015.

Winfrey is buying approximately 6.4 million shares of Weight Watchers at $6.79 per share.

The former United States 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.