News Corp. sells Beliefnet, a spirituality Web site, to investment group
By APFriday, June 25, 2010
News Corp. sells Beliefnet
NORFOLK, Va. — News Corp. has sold Beliefnet, a spirituality Web site, to an investment group.
Terms of the acquisition, which was announced Friday, weren’t disclosed.
The buyer, BN Media, is an investment firm behind two organizations — Affinity4 and Cross Bridge — focused on nonprofits and charities.
The companies said the acquisition will build on existing relationships. Affinity4 sells telephone, Internet and other services and donates part of the proceeds to charities and ministries. Cross Bridge provides spirituality-based video and other kinds of programming.
The deal will help Beliefnet “continue its mission to be the leading provider of inspiration and faith-based online content,” Beth-Ann Eason, Beliefnet’s general manager, said in a statement.
