Oprah's Angel Network shutting down

Oprah Winfrey's Angel Network stopped accepting donations on Monday in preparation for the charity's shutdown.

The foundation, which launched in 1998, will close after its remaining assets have been dispersed, reports The AP.

The Angel Network raised nearly $80m (£55.6m) via over 150,000 donors over the years, which it used to fund efforts such as Hurricane Katrina relief and building schools in multiple third-world countries.

"Oprah remains deeply committed to philanthropy, and her new cable network - OWN: The Oprah Winfrey Network - will continue to highlight charitable organisations in conjunction with its programming in the years ahead," read a statement on the network's website.

It was recently announced that Winfrey has started a private investment firm to handle her fortune.