TV mogul nets $32 million for history-making property.
Oprah Winfrey continues to diversify and grow her business empire. It was announced today that the media titan will sell Harpo Studios in Chicago for $32 million, which was where The Oprah Winfrey Show was filmed from 1990 to 2011.
Harpo Studios has entered into a purchasing agreement with developers Sterling Bay for the sale of the 3.5-acre campus in Chicago’s West Loop. In a statement Harpo says, “We expect the transaction to be closed in 30 days. The property will be leased back to Harpo for two years and the studio will continue to produce programming for OWN.”
Oprah Winfrey’s Lifeclass and other OWN original programming are shot at Harpo Studios, where currently 200 people are employed.
In addition to redefining the media world, Winfrey has also been commended with transforming the former gritty industrial area of Harpo Studios into a gentrified neighborhood filled with families, trendy restaurants and shops.
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