The Washington Post Company to Invest in FaithStreet.com, Terms Not Disclosed
The Washington Post Company (NYSE: WPO) today announced it will make an investment in FaithStreet.com, a digital outreach and giving platform for places of worship. The transaction will include a financial investment, as well as the content of its popular website OnFaith.com. Sally Quinn, editor-in-chief, will remain founding editor of OnFaith and will work closely with FaithStreet.
“We are delighted to join efforts with FaithStreet,” said Ann McDaniel, senior vice president of The Washington Post Company. “We expect that users will appreciate the combination of FaithStreet's many services and OnFaith's first-rate coverage of the intersection of news and religion.”
Ms. Quinn said, “This is very exciting. After six and a half years, we have found the perfect partner for OnFaith. The founders of FaithStreet have exactly the same vision for the expansion of OnFaith that we have. They understand the importance religion plays in all aspects of our lives. It is also gratifying that The Washington Post Company is investing in this venture. I look forward to working together with them to build OnFaith by FaithStreet into a major player in the religion world and on the internet.”
Sean Coughlin, FaithStreet CEO, said, “Faith leaders create exceptional content, and OnFaith by FaithStreet will give them a new platform to publish that content and expand their audiences. Importantly, this partnership will also bring new audiences to and drive further engagement with the FaithStreet platform. We are honored to have The Washington Post Company as an investment partner, and excited to bring the great work Ms. Quinn has done with OnFaith into the FaithStreet family.”
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