Fox Entertainment Group (FEG) announced its acquisition of Beliefnet, a website that enables consumers to better understand their faith and build diverse spiritual communities by providing content and tools for a broad range of religions and spiritual approaches. Beliefnet, the largest online faith and spirituality destination, will become part of Fox Digital Media, spearheaded by President Dan Fawcett, which takes on an expanded role to support FEGâ€™s vast cable, TV and film brands online, and drive FEGâ€™s continued growth in the online market.
The acquisition provides Beliefnet with vast resources to further build and enhance its already popular brand. It also offers an online platform for FEG to distribute content from its extensive media library and for News Corp. to expand its faith-based businesses, including HarperCollinsâ€™ Zondervan and HarperOne brands, and 20th Century Fox Home Entertainmentâ€™s faith-based programming initiative.
Beliefnet provides devotional tools, access to the best spiritual teachers in the world, thought-provoking commentary and a portfolio of web-based social networking tools to enable a supportive community surrounding each personâ€™s unique spiritual principles and beliefs.
Financial terms of the acquisition were not disclosed.
Originally posted on December 4, 2007 @ 12:33 pm