Schuller Media Deal

Former televangelist Robert A. Schuller, is buying two media companies in Atlanta. ComStar Media (his group) is purchasing FamilyNet Radio and FamilyNet Television from Charles Stanley's In Touch Ministries. Though Schuller isn't saying how much the deal is worth, it increases his company's reach to some 50 million households. FamilyNet will be moved to Comstar's Dallas headquarters. ComStar pulled in $5 million in revenue each year and bought the AmericanLife Television Network earlier this year. The younger Schuller moved into running television networks after he left the megachurch founded by his father in Orange County, California because of a family dispute.