By Staff -- Multichannel News, 8/27/2006 8:00:00 PM
Washington — Washington— BET Interactive, the Internet arm of BET Networks, is buying out its original investors.
The Viacom Inc. unit is paying an undisclosed amount of cash to Microsoft Corp., News Corp., Liberty Media Corp. and IAC/InterActiveCorp, as well as former investors from 360HipHop.com, led by hip-hop mogul Russell Simmons.
"We have great plans for BET.com and are thrilled to bring this leading media site completely under our roof,’’ said Viacom CEO Tom Freston.
Roughly 2.6 million Web users visit BET.com each month, the company said.
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The Association of Cable Communicators headed
west from Washington, D.C., to Denver as its 2009 Forum and Beacon Awards ceremony became
part of Cable Connections-Fall festivities.
HBO Sports senior vice president Mark Taffet discusses the PPV performance prospects for the Sept. 19 Floyd Mayweather Jr.-Juan Manuel Marquez boxing event as well as the network's PPV fight schedule for the rest of the year during a recent interview with Multichannel News.
