News Corp. Buys FiT TV Stake
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News Corp. said Thursday it has bought a majority stake in FiT TV, a health and fitness cable channel created by fitness guru Jake Steinfeld, for an undisclosed price.
News Corp. will run the closely held 24-hour channel through its Fox/Liberty Networks and International Family Entertainment units. Body by Jake Enterprises and Reebok International will maintain minority stakes in FiT TV.
The channel reaches about 8 million subscribers through cable and satellite TV services.
Fox/Liberty Networks, formed in 1995 by News Corp. and Tele-Communications Inc.’s Liberty Media unit, includes the FX, Fox Sports Net and Fox Sports International networks.
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