Viacom's BET Networks bought back full ownership in its web site BET.com in a cash buyout of its original investment group - Microsoft, News Corporation, Liberty Media and IAC/InterActive Corp, as well as former investors from Russell Simmons' 360HipHip.com.
BET started the site, which it says is the top Internet portal targeting African-Americans, in 2000 with some $35 million in venture capital funding from investors. The site generates 2.6 million unique visitors each month, according to BET.
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