Oprah Winfrey To Sell Harpo Studios In Chicago For $32 Million
Billionaire Oprah Winfrey is set to sell Harpo Studios in Chicago, the iconic studios where she made her name with The Oprah Winfrey Show, after having entered negotiations with a developer.
In a statement Harpo has said that the studio, which is where Oprah shot her chatshow from 1990 to 2011, will continue for at least another two years.
According to Crain’s Chicago Business, the statement read: “We have entered into a purchasing agreement with Sterling Bay for the four-building Harpo Studios campus in Chicago’s West Loop.
“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.”
Around 200 people work at the 3.5-acre studio, which will reportedly sell for approximately $32 million and it’s expected that the sale will be complete by the end of April 2014.
Oprah, 60, started at Chicago’s WLS-TV’s morning talk show, ‘A.M. Chicago’ in 1984, and the show became no.1 for the market just one month later. The show went on to spawn The Oprah Winfrey Show.
She is credited to have transformed the area of Chicago when she moved the show to Harpo Studios in 1990. She now has the street outside Harpo Studios named after her ‘Oprah Winfrey Way’.