World's Largest Spiritual Web Site Joins News Corporation Family
Fox Digital Media to Oversee Business as Part of Expanded Role
LOS ANGELES, December 4 /CNW/ - 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
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."
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 person's unique spiritual principles and beliefs. Its insightful and
compelling editorial content has been consistently recognized by the American
Society of Magazine Editors and the site has received numerous general
excellence awards. Beliefnet strives for political and ideological balance and
is not affiliated with any spiritual organization or movement.
"FEG's vast resources will enable Beliefnet to expand our audience,
enhance our offerings and more effectively carry out our mission to help
people find and walk a spiritual path that brings comfort, hope, clarity,
strength, and happiness," said Steven Waldman, Beliefnet's CEO,
Editor-in-Chief and Co-Founder.
Savvian LLC advised Beliefnet on this transaction. Financial terms were
The Faith and Spirituality market is strong and continues to grow.
According to the Pew Internet Project, over 82 million Americans and 64% of
all Internet users utilize the Web for faith-related matters. In addition, a
division of Marketresearch.com put the demand for religious and
spiritually-oriented materials like books, DVDs, software, etc. at well beyond
Beliefnet, winner of the 2007 National Magazine Award for General
Excellence Online, is the largest 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 other spiritual traditions.
Beliefnet offers a wide variety of resources including social networking
tools, articles, quizzes, devotionals, sacred text searches, photo galleries
and intimate interviews with noted politicians, celebrities and spiritual
leaders. Beliefnet has approximately three million unique visitors each month
and a daily email newsletter readership of nearly 11 million subscribers. The
company is not affiliated with any spiritual organization or movement, and has
partnerships with TIME magazine, Yahoo!, and Chicken Soup for the Soul.
About Fox Entertainment Group
Fox Entertainment Group (FEG) is a unit of News Corporation (NYSE: NWS,
NWS.A). It is principally engaged in the development, production and worldwide
distribution of feature films and television programs, television broadcasting
and cable network programming. The Company's studios, production facilities
and film and television library provide high-quality creative content, and the
Company's broadcasting and cable networks provide extensive distribution
platforms for the Company's programs. Fox Digital Media is a division of FEG
dedicated to setting distribution strategy and licensing programming from all
FEG divisions to new, digital outlets.
About News Corporation
News Corporation (NYSE: NWS, NWS.A; ASX: NWS, NWSLV) had total assets as
of September 30, 2007 of approximately US$64 billion and total annual revenues
of approximately US$30 billion. News Corporation is a diversified
entertainment company with operations in eight industry segments: filmed
entertainment; television; cable network programming; direct broadcast
satellite television; magazines and inserts; newspapers; book publishing; and
other. The activities of News Corporation are conducted principally in the
United States, Continental Europe, the United Kingdom, Australia, Asia and the
For further information:
For further information: Fox Entertainment Group Dana M. Harris,