*Consumer goods corporation Procter & Gamble, the world’s biggest advertiser, has signed a multiyear media deal with OWN: The Oprah Winfrey Network, which is set to launch in January.

A P&G spokeswoman declined to provide any details about the agreement. But the Wall Street Journal, citing sources, said it was a three-year deal valued at more than $25 million annually involving advertising time and product placement.

OWN is a 50-50 venture between Winfrey and Discovery Communications. The network is taking the place of cable’s Discovery Health Channel as of January 1, 2011.

Winfrey said she will end her popular network daytime television show in September 2011 after 25 years on the air.