updated 06/10/2011 AT 7:00 AM ET
•originally published 06/10/2011 AT 8:00 AM ET
As the curtain went down on her landmark TV show May 25, Oprah Winfrey was already thinking about her OWN Network.
But first, she needed a break – which is exactly what she’s taking, in London.
“She’s just relaxing,” BFF Gayle King, 56, told PEOPLE at the fifth anniversary of The Beatles LOVE by Cirque du Soleil, in Las Vegas. “She’s on vacation right now. She’s taking a much-deserved, well-deserved break.”