Press Release: Fox Entertainment Group Acquires Beliefnet
FOX ENTERTAINMENT GROUP ACQUIRES BELIEFNET
World's Largest Spiritual Web Site Joins News Corporation Family
Fox Digital Media to Oversee Business as Part of Expanded Role
Los Angeles, CA, December 4, 2007 – Fox Entertainment Group (FEG) today announced its acquisition of Beliefnet, a Web site 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 FEG’s vast cable, TV and film brands online, and drive FEG’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 HarperCollins’ Zondervan and HarperOne brands, and 20th Century Fox Home Entertainment’s faith-based programming initiative.
Additionally, Beliefnet will provide unique, world-renowned spiritual programming to the company’s various businesses. Beliefnet will also partner closely with Fox Interactive Media, leveraging the group's world-class technology and “FIM Serve” targeted advertising delivery platform.
“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 Dan Fawcett, President of Fox Digital Media. “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.”