FamilyNet, a television and radio network formerly owned by the Southern Baptist North American Mission Board, has been sold once again. Charles Stanley's In Touch Ministries, which purchased FamilyNet from NAMB in October 2007, has sold the network to a private firm affiliated with Robert A. Schuller, son of TV preacher Robert Schuller.
The Schullers, who were jointly leading the "Hour of Power" telecast from California's Crystal Cathedral, parted ways in a much-publicized father-son dispute in November 2008.
No purchase price for FamilyNet was disclosed by either In Touch Ministries, which issued a news release about the sale Dec. 10, or the private firm, named ComStar Media Fund, L.P., according to the TradingMarkets.com business website.
Neither NAMB nor In Touch disclosed a purchase price for FamilyNet's sale in 2007. The then-Home Mission Board of the Southern Baptist Convention (now NAMB), in 1991, purchased FamilyNet from the ministry of TV preacher Jerry Falwell, who died in 2007.
Source: Art Toalston, Baptist Press