Light Media, a religion-based media company, has sold a stake in Christian venture fund Christian Capital Fund.
Light Media said it had sold a minority stake.
Danny Wilson, chief executive of Light Media, said: "ChristianCapitalFund.com ("CCF") was acquired in 2006, after researching and discovering that there were "zero" investment/venture capital funds specifically for supporting and advancing inspirational products, services and ideas. As such, the original idea was that Light Media would be a catalyst for this space and use CCF as a vehicle to spur investment activity into the estimated $9 Billion inspirational media and entertainment space."
Wilson added: "Light Media will continue to strategically right-size and fully/partially divest of any digital real estate that is not central to the Light Media Network or of significance to operating as the 20th publicly-traded radio/multi-media conglomerate in the United States. Divestitures will enable reinvestment in multi-media synergy, mergers and acquisitions."