Apple, Oprah to team on streaming video service

Apple has signed a multi-year deal with Oprah Winfrey to create content for its not-yet-launched subscription video service. 

"Winfrey's projects will be released as part of a lineup of original content from Apple," the company said.

Apple's video service is set to compete with streaming platforms Netflix and Hulu--companies that are spending billions to produce and license original, exclusive content to entice subscribers. 

The move takes place against a backdrop of a rapidly consolidating media landscape in which legacy players are fighting to maintain dominance as streaming gains steam. AT&T completed its acquisition of Time Warner this week, while Disney and Comcast are dueling to take over the entertainment portion of 21st Century Fox.

Winfrey founded and heads the OWN channel as chair and CEO. She recently extended her contract with OWN through 2025. Winfrey is also a special contributor to CBS News program "60 Minutes."

An OWN spokeswoman said Winfrey has an exclusive on-camera deal with OWN but can appear elsewhere on a limited basis. She noted that Winfrey's content for Apple will be solely for the streaming service.