Viacom Buys BET.com Back - Broadcasting & Cable

Viacom Buys BET.com Back

Publish date:

  Viacom's BET Networks bought back full ownership in its web site BET.com in a cash buyout of its original investment group - Microsoft, News Corporation, Liberty Media and IAC/InterActive Corp, as well as former investors from Russell Simmons' 360HipHip.com.

    BET started the site, which it says is the top Internet portal targeting African-Americans, in 2000 with some $35 million in venture capital funding from investors. The site generates 2.6 million unique visitors each month, according to BET.