BN Media, LLC Announces Acquistion of Beliefnet
Investment Firm Behind Affinity4 and Cross Bridge Adds to Portfolio of Leading Online Spirituality Properties
FOR IMMEDIATE RELEASE
Interviews available on request
Donna M. Autuori
Autuori Corporate Communications, Inc.
-Investment Firm Behind Affinity4 and Cross Bridge Adds to Portfolio of Leading Online Spirituality Properties-
Norfolk, VA, June 25, 2010 – BN Media, an entity that includes the investors behind Cross Bridge and Affinity4 , today announced that it has acquired Beliefnet, the Web’s leading multi-faith inspiration and spirituality site, from News Corporation. Beliefnet, which was founded in 1999, has won numerous awards, including an ASME National Magazine Award in 2007 and both a Webby and an Online Journalism award in 2008. Terms of the agreement were not disclosed.
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 organizations 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 recognized both the tangible assets of Beliefnet – its high-quality content, tremendously loyal community and its well-established brand – as well as the intangibles, in particular, its excellent reputation for providing high quality, diverse inspirational content reflecting a myriad of cultures, religious beliefs and secular philosophies,” said Steve Halliday, CEO of BN Media. “We are where we want to be both in terms of the partnerships we are creating with content providers, distributors and advertisers, as well as with the relationships we are building with our audience. We are very pleased with how our online community is growing and its representative demographics.”
“In our strategic planning, our long-term vision was to become a positive influence on our world, supporting nonprofits in their missions and providing uplifting content and programming that encourages positive thought and action and feeds the soul,” said Joseph R. Gregory, Chairman of BN Media. “Beliefnet’s mission is very complementary, in helping people find and walk a spiritual path that instills comfort, hope, clarity, strength and happiness. Together, we will be extremely powerful and transformative in the lives of those who log on to our sites.”
“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 Beth-Ann Eason, General Manager and COO of Beliefnet. “We look forward to partnering even more closely with BN Media’s online properties to jointly realize an even greater level of success in the online spirituality space.”
Affinity4 is an affinity-based marketing company that helps to support the goals of nonprofits by assisting in their fundraising. Specifically, Affinity4 markets various telecommunications products and services, including long distance and wireless phone services, high-speed Internet, as well as DIRECTV®, credit card and insurance to individuals who have selected to support charities, ministries and other nonprofits. With each supporter’s purchase, Affinity4 provides a 10% GiveBack to the corresponding nonprofit organization. Affinity4’s business model is to leverage and transform ordinary activities such as making phone calls or watching TV into fundraising opportunities on behalf of vital causes worldwide. The Affinity4 Brand Promise is Ordinary Activities. Extraordinary Giving. To date, Affinity4 has given back more than $76 million to nonprofits. For more information, visit: www.affinity4.com or call 1-800-684-4880.
Beliefnet, a recipient of the National Magazine Award for General Excellence Online, is the largest multi-faith online community for spirituality and inspiration. Its mission is to help people find and walk a spiritual path that instills comfort, hope, clarity, strength and happiness for people who are exploring their own faith or curious about others. Beliefnet is the definitive source of spiritual information presented without defined editorial point-of-view, and is a leading authority for major news organizations in the United States. It covers an exhaustive range of topics and is continually enhanced by its users. Resources include blogs and social networking tools, feature articles and videos, quizzes, devotionals, photo galleries and interviews with noted politicians, celebrities and spiritual leaders. Beliefnet has more than 14 million newsletter subscribers and averages nearly three million unique visitors per month. Beliefnet is not affiliated with any spiritual organization or movement.
About BN Media
The mission of BN Media is to serve the vast online market for spirituality and inspiration, bringing audio-visual and written content to the masses while helping people make a difference for their favorite nonprofit organization. BN Media achieves this by bridging the gap through which ordinary activities inspire activism, online giving and volunteerism.
About Cross Bridge
Cross Bridge continues to expand its base of prominent nonprofits that are using the site www.crossbridge.com to convey their content, some of which has been displayed on a number of robust distribution sites. The website is also growing its list of advertisers who see an opportunity to benefit by aligning with the positive values that Cross Bridge promotes.