MUMBAI: News Corp is selling off the multi-faith inspiration and spirituality site Beliefnet to BN Media, an investor firm that owns other online spirituality destinations for an undisclosed amount.
News Corp, which had acquired Beliefnet two-and-a-half years ago through Fox Entertainment Group, had earlier this year sold the movie review website RottenTomatoes.com.
"This agreement will enable Beliefnet to effectively continue its mission to be the leading provider of inspiration, spirituality and faith-based online content in a multi-faith environment," said Beliefnet GM and COO Beth-Ann Eason. "We look forward to partnering even more closely with BN Media‘s online properties to jointly realise an even greater level of success in the online spirituality space."
BN Media also has investments in Cross Bridge and Affinity4.
BN Media said in a statement that the acquisition builds on an existing relationship between Beliefnet and Affinity4, an affinity marketer that has raised more than $76 million in funding for charities, ministries and other nonprofit organisations by turning ordinary activities into extraordinary giving.
Cross Bridge features online distribution and monetization of audio-video content for nonprofits and charities. Cross Bridge‘s goal is to bring faith and inspirational content to the growing online space.
"We recognised both the tangible assets of Beliefnet, its high-quality content, loyal community and its well-established brand as well as the intangibles, in particular, its reputation for providing high quality, diverse inspirational content reflecting a myriad of cultures, religious beliefs and secular philosophies," said BN Media CEO Steve Halliday.
Beliefnet was founded in 1999 and is not affiliated with any single spiritual movement. However, it claims more than 14 million subscribers to its newsletter and nearly three million unique visitors a month on the website Beliefnet.com.
