Washington, March 17  : Oprah Winfrey's 'The Oprah Winfrey Show' studio is reportedly being sold to a developer for 32 million dollars.

According to a statement issued to Crain's Chicago Business, the studio has entered into a purchasing agreement with Sterling Bay and the transaction is expected to close in 30 days, the Fox reported.

However, the four-building studio, which had been used by Winfrey to film her show from 1990 to 2011, will be leased back to Harpo for two years and they will continue to produce programming for OWN. (ANI)