Oprah Winfrey Buys Stake in Weight Watchers, Stock Soars
Oprah has saved Weight Watchers by buying a 10 percent stake in the company.
Can Oprah Winfrey save Weight Watchers?
The billionaire media mogul has bought a 10 percent stake in the struggling weight loss brand.
She's invested $43.2 million in the company, which had lost 72 percent of its value this year, after members left for cheaper digital rivals.
But since the announcement of Oprah's investment on Monday morning, the 52-year-old company's stock has soared as much as 87 percent.
America has followed Oprah's weight loss battle for decades and she famously discussed it on her daytime talk show.
As part of the deal with Weight Watchers, Oprah has become a member and will share her experiences along the way.
"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," she says. "I believe in the program so much I decided to invest in the company and partner in its evolution."
Weight Watchers tweeted:
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