Oprah Winfrey Becomes Part Owner, Endorses Weight Watchers
DETROIT (WWJ) - Oprah Winfrey is becoming a partial owner of Weight Watchers.
The billionaire media mogul, who over the years has talked openly about her battle with her weight, will be taking a 10 percent stake in Weight Watchers for about $43 million as well as joining the weight management company's board.
She's tried a number of weight loss programs over the years including liquid and vegan diets and now says she plans to follow the Weight Watcher's program which involves making healthy choices while counting "points."
CEO and President of the Weight Watcher Group Florine Mark says Winfrey has given also given the company the right to use her name and image as an endorsement for the company.
"We know there no real magic pill; there's hard work," Mark told WWJ's Dr. Deanna Lites. "And I think she's finally recognized for herself that she really wants to make a commitment to make her life as wonderful as it can be."
Winfrey will use the Weight Watchers mobile app and work with a personal coach, the company said; and, according to Mark, she'll candidly share her experiences and perspectives along the way.
"We're not going to be zeroing in on how much weight Oprah Winfrey is losing every single week," Mark said. "We're just happy that Oprah has finally decided that she wants to make a positive change in her life, and she feels that Weight Watchers is the best way to make her improve her lifestyle and improve the way she eats, and to help to make her as healthy as she can be the rest of her life."
Mark believes Winfrey's unique ability to inspire and connect with people will be an asset.
According to reports, Weight Watcher' business had been suffering in recent months. But shares of Weight Watchers (WTW) soared about 60 percent in early trading Monday to about $11 a share.
