BET Announces Partners for

Posted on August 13, 1999

BET Holdings Chairman and CEO Robert Johnson announced that BET will partner with four media and technology conglomerates to create, a new online destination for African Americans. BET Holdings, along with Microsoft Corporation, Liberty Digital, LLC, News America Inc., and USA Networks, Inc., will fund the joint venture with an initial cash investment of $35 million. BET will have majority ownership and control of the venture.

"The Internet is the platform for the powerful new digital economy and connected society," Johnson said. "The failure of any community to avail itself of the resources of the Internet will limit its ability to succeed in the new millennium. BET is bringing its media channels, content and brand resources together with those of our partners to create an online destination that will educate, enrich, empower and entertain African Americans."

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