News Corp. Unloading New Media Proeprties

According to Kara Swisher at AllThingsD, News Corp. is looking to unload many of its new media properties, starting with the religion and spirituality sire BeliefNet.

Beliefnet is currently being shopped around, with the company also sending out feelers for selling Jamster.

The decision by News Corp. is interesting, because the company has made a concerted effort to expand its new media offerings in recent years. In addition to MySpace, the company is an investor in Hulu, and announced a new mobile app that will; deliver premium television programming to mobile devices.

Still, niche sites like BeliefNet are harder to monetize and grow than a Huly or MySpace (though the social networking site is not without many challenges).

We will have to see what other moves the company makes, whether unloading existing properties or snatching up new ones.

Publish date: May 27, 2010 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT