Oprah Winfrey has made a fortune in television, magazines and movies. Now she has hired someone to manage it.

Winfrey, one of the most powerful brands in media, has begun setting up a so-called family office to handle her personal investments, according to people familiar with the situation. Her first hire: Peter Adamson, a well-regarded investor who currently serves as chief investment officer for Eli Broad, the Los Angeles billionaire and philanthropist.

The move comes as Ms. Winfrey begins a new chapter in her professional life. In January she plans to launch her own channel, the Oprah Winfrey Network, a Los Angeles-based joint venture between Winfrey's Harpo Inc. and Discovery Communications Inc. that aims to reach 80 million homes in the U.S.

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