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Oprah to sell Harpo Studios for $32 million

March 16, 2014 12:00:00 AM PDT
Talk show tycoon Oprah Winfrey is selling Harpo Studios to a developer in Chicago for about $32 million, but the studio will remain on the property for two more years.

The Oprah Winfrey Network says they've entered a purchasing agreement with Sterling Bay for the 3 1/2-acre campus, which houses four buildings.

The transaction is expected to close in about 30 days. However, OWN will lease the facilities for two more years to produce programming for the network.

Winfrey filmed "The Oprah Winfrey Show" at the studio from 1990 to 2011, when she ended the talk show to start the Oprah Winfrey Network on cable.

The Associated Press contributed to this report.