ComStar Buys FamilyNet12/08/2009 4:26 PM Eastern
ComStar Media, which earlier this year bought AmericanLife Television Network, said it has purchased FamilyNet Television and FamilyNet Radio for an undisclosed sum.
FamilyNet is in 26 million homes (10 million cable and 16 million broadcast), according to ComStar (a list of affiliates is here). FamilyNet Radio has 11 million subscribers via Sirius Satellite Radio, the company said.
The TV network was launched in 2007 by Dr. Charles Stanley's In Touch Ministries and its mix includes religious and kids programming, originals such as Julie Byrd's Kitchen and old acquired sitcoms Happy Days and My Three Sons.
"In Touch took FamilyNet as far as possible with our available resources," In Touch Ministries' chief operating officer Phillip Bowen said in a statement. "Its growth and success occurred with a swiftness we never could have expected. When this opportunity with ComStar Media presented itself, we understood it was God taking FamilyNet to the next level."
ComStar Media CEO Chris Wyatt (pictured r.) said in the statement: "FamilyNet is a critical acquisition for ComStar because it triples our reach into 50 million households. We are aggressively acquiring distribution and technology that will position us to become the premiere network in the increasingly important family market."
ComStar Media Fund was founded in 2008 by Dr. Robert A. Schuller and Wyatt, the founder of Godtube.com. It bought AmericanLife, a boomer-focused network with about 12 million subscribers, this past spring. It recently hired Aaron Norris, brother of action star Chuck Norris, as head of development and production, and then acquired U.S. distribution rights to Chuck Norris's World Combat League.