AceShowbiz -

Has just launched her channel on YouTube official, Oprah Winfrey is now invading the cable network television, teaming up with Discovery Networks to launch "OWN: The Oprah Winfrey Network."

In a deal announced Tuesday, January 15 it was stated that both the Discovery Communications and the talk show queen will share 50/50 ownership of the new venture with the Discovery Health network will be handed over to Oprah by late 2009 and renamed OWN which stands for the Oprah Winfrey Network. In return for that, Oprah gives half ownership of her Website oprah.com to Discovery.

Set to have editorial control over the channel and its Website, Oprah will as well serve as chairman of the network. She and Discovery Communications will pick a CEO to handle day-to-day operations.

Claimed creating her own network as a goal she's had for the last 16 years, Oprah revealed "This is the fulfillment of yet another dream for me that I have had for quite a long time. I actually was going through cleaning out some drawers awhile back last year and I came across a piece in my journal written May 24, 1992, which is actually sixteen years now since I had this vision of creating my own network using the platform of 'The Oprah Winfrey Show'."

Planned to keep the focus on "mindful, not mindless, television," the mission statement of OWN is helping people to live their best lives. The programming, according to Oprah, will "touch on many of the same issues she currently covers on her eponymous talk show, including money, weight, health, spirit and family life."

"It's about unleashing the power of human potential, that's what it's about," she said. "The idea of creating programming that's just really good for people was the most exciting thing I'd ever heard."

Discovery Communications chief David Zaslav, meanwhile, commented "We couldn't be more excited to be in business with Oprah Winfrey. There's no stronger brand in media than the Oprah brand."

OWN is slated to debut in 2009, on what is currently the Discovery Health Channel.