Shares of telecommunications companies rose amid deal activity.
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Discovery Communications is taking majority control of OWN, the cable network it co-owns with Oprah Winfrey. Under the terms of the deal, Discovery said it has purchased 24.5% of OWN for $70 million from Ms. Winfrey's company Harpo, leaving the former joint owner Harpo with a 25.5% stake in OWN.
--Rob Curran, email@example.com
(END) Dow Jones Newswires
December 04, 2017 16:55 ET (21:55 GMT)