The Associated Press reported that investors flocked to Weight Watchers shares in the wake of the news, sending the stock up 53 per cent in pre-market trading to $10.36 on Monday morning.
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In a statement, Oprah said she believes in Weight Watchers enough to make a big investment because the program has given her the tools she needs to make lasting changes in her struggle with weight.
“Like millions of women, it’s been the battle of my life”, she said of her weight in one of the flashback clips from her former talk show.
“I thought the 5 pounds made me too fat, not good enough to be at Don Johnson’s party”.
Winfrey will be joining its Board of Directors are part of her long-term partnership with the company to inspire people around the world to lead a healthier and more fulfilling life.
This video includes images from Getty Images.
She liked it so much, she bought the company. Its shares increased to $13.92 following the announcement that Oprah has signed the deal.
Winfrey will use the Weight Watchers mobile app and work with a personal coach, the company said.
As well as her role on the Weight Watchers board, Winfrey, who for a long time has held an interest in dieting programs and health issues, will serve the company as one of their advisers.
Chambers added, “Through our conversations, it became clear that there is tremendous alignment between Oprah’s intention and our mission”.
Meanwhile, Weight Watchers is hoping to tap into Winfrey’s record for turning ordinary products into the latest trend.
The Weight Watchers endorsement is a departure for Winfrey.
She also has joined the program and will share her experiences and perspective along her weight loss journey, according to a release from Weight Watchers.
According to a company filing, Winfrey paid just under $7 a share, or about $43 million, for her stake.
Mark says she’s excited to see how Oprah’s membership and leadership energizes other members and attracts new ones who see the benefit of losing weight and better health.
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A stamp of approval from Winfrey during her talk show days has meant a lot.
