Oprah Winfrey is the new CEO of OWN

Oprah Winfrey will take over as Chief Executive officer of OWN: Oprah Winfrey Network, the cable channel announced this Wednesday Reuters reports.

In addition to being CEO, Winfrey will also operate as the creative officer of the network. Winfrey will take over from interim CEO Peter Liguori, the chief operating officer of Discovery Communications Inc. (DISCA), which co-owns the channel with Winfrey.

Winfrey, one of the most influential women in the US, will be the third CEO of OWN which was launched in January and has since been struggling to keep its ratings up.

I am ready to dedicate my full creative energy and focus as the full-time CEO of OWN, Winfrey said in a statement.

The channel, currently shows reruns of Dr. Phil and What Not to Wear, and will debut new programs in the next six months, including Rosie, In the Bedroom with Dr. Laura Berman and Oprah's Next Chapter.

Erik Logan and Sheri Salata, presidents of Winfrey-owned Harpo Studios, were appointed presidents of OWN.

Former Chairman of OWN Christina Norman was asked to step down in May as Discovery CEO David Zaslav said OWN's ratings had been below our expectations following which Liguori took over as interim CEO.

Discovery spent $215 million to fund OWN through the first quarter.