News Corp sells Beliefnet to small media company

BN Media is new owner
A small Virginia-based media company that specializes in channeling a portion of consumer spending to charity has acquired Beliefnet, a leading online Web site devoted to multifaith news, commentary and inspirational content.

The buyer, BN Media LLC, focuses on the “vast online market for spirituality and inspiration” by “bringing audio visual and written content to the masses while helping people make a difference for their favorite nonprofit organization,” which receives 10 percent of the purchase price.

Beliefnet, cofounded by former magazine journalist Steve Waldman in late 1999, has had a tumultuous decade— “many highs and lows,” in his words. The New York–based Beliefnet went bankrupt in 2002, but the online site gradually recovered after Waldman took over two top executive posts.

 

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