News Corp. sells Beliefnet to BN Media

News Corp. has sold Beliefnet, the largest online community devoted to faith and spirituality, to BN Media, an investment group behind Cross Bridge, a provider of inspirational videos, and marketing firm Affinity4.

Fewer than half of the 50 people who work at Beliefnet are expected to lose their jobs as a result of the acquisition, said a person familiar with the situation. Terms were not disclosed.

Reports surfaced this spring that News Corp. was seeking a buyer for Beliefnet, which the company acquired in 2007 but no longer fits with the media giant's digital strategy.

-- Dawn C. Chmielewski