New Year’s resolution season is the busiest time of the year in the weight loss industry. Michael MacDonald, CEO of Medifast (MED), said the arrival of Oprah Winfrey at Weight Watchers (WTW) will raise the stakes even higher. 'I’m very excited that Oprah decided to get involved with a weight loss company,' said MacDonald. 'You don’t want your industry leader not to do well if you are in that particular industry.' Shares of Weight Watchers, down 14-percent year-to-date, soared after the firm announced in October that Winfrey would take a 10-percent stake. The billionaire media mogul also received options to acquire an additional 5% stake and joined the Weight Watchers board as well. Shares of Medifast have dropped 9-percent so far this year. Studies show by January 10th, most Americans have given up on their New Year’s Resolutions. MacDonald said Medifast’s goal is not only to provide customers with the tools to start their weight loss journey, but to support them the entire way. TheStreet's Gregg Greenberg reports from New York.
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