Discovery+ subscribers will enjoy over 800 current and legacy programming episodes from the CNN Original Series and HLN Original Series library.
"One aspect of the deal of particular interest to sports fans is streaming rights."
The deal would make Discovery the second-largest media entity in the United States.
One estimate places the value at as much as $150 billion
Winfrey continues to serve as CEO and chief creative officer of OWN, though she now owns only a 5 percent stake in it.