UPDATE 2-News Corp purchases Beliefnet

Tue Dec 4, 2007 11:13am EST

Related Topics

(Adds confirmation from News Corp, background)

By Kenneth Li

NEW YORK Dec 4 (Reuters) - News Corp's NWSa.N Fox Entertainment Group said on Tuesday it has purchased Beliefnet, a Web site on spirituality and faith, as part of its Internet expansion.

Financial terms were not disclosed.

Founded in 1999, Beliefnet, which offers everything from message boards, news and blogs to e-mail newsletters and social networks, attracts more than 3.1 million unique monthly visitors and 7.6 million subscribers, according to its Web site.

The site targets users holding myriad faiths including Christianity, Islam, Judaism, and followers of Falun Gong.

Fox sees Beliefnet as a way to distribute its content, from 20th Century Fox Home Entertainment's faith-based programming to HarperCollins's Zondervan and HarperOne brands.

The company will be a part of Fox Digital Media, led by President Dan Fawcett. The division is responsible for distributing Fox programming on the Internet.

Although it is not a part of News Corp's Fox Interactive Media (FIM), which oversees MySpace, Fox Digital Media plans to work closely with FIM, and will use targeted advertising technology developed by FIM.

News of the deal was first reported by media blog FishbowlNY.

News Corp has rapidly expanded its Internet properties since 2005 after it purchased the MySpace social network for $580 million. (Editing by Brian Moss)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.