Oprah buys into Weight Watchers

Oprah Winfrey will buy 10 percent of Weight Watchers International’s shares and join the company’s board.

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New York - Oprah Winfrey will buy 10 percent of Weight Watchers International’s shares and join the company’s board as part of a new partnership between the celebrity talk- show host and the struggling provider of weight-loss programs and products.

Winfrey has joined the program and will also serve as an adviser, the New York-based company said in a statement Monday.

She will purchase newly-issued stock representing 10 percent of the outstanding shares, with an option to buy an additional 5 percent, it said. The shares rose more than 40 percent in pre- market trading.

“I believe in the programme so much I decided to invest in the company and partner in its evolution,” Winfrey said in the statement.

Weight Watchers could use a boost of star power as it’s suffered from falling revenue as consumers migrate to free, digital methods for counting calories and keeping in shape. The company saw profit fall 52 percent in its most recent fiscal year as sales slid 14 percent.

Shares of Weight Watchers had slid 73 percent this year through last week. About 51 percent of the stock is owned by Luxembourg-based Artal Group.

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