TMCnet News
ComStar Media Fund acquires FamilyNet Television and FamilyNet RadioDec 11, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- ComStar Media Fund, LP, a private equity fund, has acquired FamilyNet Television Corporation and FamilyNet Radio, a Christian radio station that broadcasts faith-based programming and features syndicated programs, from In Touch Ministries. All the entities involved in the transaction are based in the US. FamilyNet Television is a television network. Under the terms of the transaction, the assets acquired by ComStar Media include FamilyNet Television's 26 million television households and FamilyNet Radio's 11 million subscribers (through SIRIUS Satellite Radio). Deal Type Private Equity Sub-Category Institutional Buy-out (IBO) Deal Status Completed: 2009-12-08 Deal Participants Target 1 (Company) FamilyNet Radio Target 2 (Company) FamilyNet Television Corporation Vendor (Company) In Touch Ministries Deal Rationale The acquisition will enable ComStar Media, which owns AmericanLife Television Network, to extend its reach to 50 million households. The deal is also part of ComStar Media's strategy to acquire distribution and technology that will strengthen its position in the family market. |