News Corp. Buys Beliefnet
Wednesday, December 05, 2007
LOS ANGELES News Corp.'s Fox Entertainment Group has acquired Beliefnet, a Web site catering to faith communities, in a move designed to boost online marketing and distribution of Fox's film and TV programs.
Financial terms of the deal, which closed Tuesday, were not disclosed.
Beliefnet boasts of being the largest online community for "spirituality and inspiration," offering social-networking tools, articles, photo galleries and religious reference material. Not affiliated with a particular religion, its content addresses religion and politics, family life and many other aspects of modern culture.
The New York-based site receives about 3 million unique visitors a month, according to Fox's statement.
Beliefnet will fold into the Fox Digital Media division, which markets and distributes Fox broadcast content online.
The Web site will also feed programming to News Corp. subsidiaries, including Fox Interactive Media.
Fox said it does not have immediate plans to tie Beliefnet content into News Corp.'s popular MySpace social-networking hub, but the company didn't rule out doing so in the future.
MySpace is operated through Fox Interactive Media, another of News Corp.'s Internet divisions.
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