NEW YORK (AFX) - Programming and entertainment company Viacom Inc. said Friday that its BET Networks group has bought out original investors in the online BET Interactive unit.
Financial terms weren't disclosed.
Original investors in the Internet operation included Microsoft, News Corp., Liberty Media and IAC/InterActive Corp., as well as former investors from 360HipHop.com. BET.com first launched in 2000.
BET.com has registered more than 3.6 million users and generates 2.6 million in total monthly unique visitors, based on June 2006 comScore data.
Shares of Viacom's common stock fell 17 cents to close at $36.34 on the New York Stock Exchange.
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