Fox Entertainment Group Acquires Beliefnet

LOS ANGELES, December 5: News Corporation-owned Fox
Entertainment Group (FEG) has acquired the faith and spirituality website
Beliefnet.

Financial terms of the transaction were not disclosed.
Beliefnet will become part of Fox Digital Media, spearheaded by president Dan
Fawcett. Fox Digital Media will oversee the website as part of an expanded role
to support FEG’s cable, TV and film brands online, and drive FEG’s growth in
the online market. Beliefnet also offers an online platform for FEG to
distribute content from its media library and allows News Corporation to expand
its faith-based businesses, including HarperCollins’ Zondervan and HarperOne
brands, and Twentieth Century Fox Home Entertainment’s faith-based programming
initiative.

Additionally, Beliefnet will provide spiritual programming
to the company’s various businesses and will also partner closely with Fox
Interactive Media, leveraging the group's technology and “FIM Serve” targeted
advertising delivery platform.

Beliefnet is a website that enables consumers to better
understand their faith and build diverse spiritual communities by supplying
content and tools for a broad range of religions and spiritual approaches.
Beliefnet provides devotional tools, access to spiritual teachers,
thought-provoking commentary and a portfolio of social networking tools.
According to the Pew Internet Project, more than 82 million Americans and 64
percent of all Internet users utilize the web for faith-related matters.

“Beliefnet has garnered respect for its commitment to
quality, editorial strength and unbiased approach to faith and spirituality
from a broad range of consumers, religious and political leaders, journalists
and advertisers,” said Fawcett. “FEG’s goal is to leverage these
characteristics across a broader media canvas and provide programming,
production, advertising sales, technology and marketing expertise that will
enhance an already terrific product in a rapidly growing market.”

—By Irene Lew