Oprah Winfrey's New Deal

Oprah Winfrey already has a top-rated talk show, Web site, magazine, XM satellite radio network and a number of TV movies, now she is stamping her name on a TV network.

It was announced Tuesday, that The Oprah Winfrey Network (OWN) will debute next year as part of a deal with Discovery Communications, according to The Associated Press.

The new network will replace the Discovery Health Network which has been declining in popularity over the years.

The deal states that OWN will be a 50-50 partnership between Discovery Communications and Winfrey's Harpo Productions Inc.

Winfrey will be chairwoman of the new network, which will reach 70 million cabel accesssible homes.

"This is an evolution of what I've been able to do every day," Winfrey said.

Furthermore, Winfrey plans to show programs that deal with issues such as health, raising children, wealth and relationships.