ComStar Media, co-founded by Dr. Robert A. Schuller, announced on Tuesday that it has acquired two family entertainment companies.
With FamilyNet Television and FamilyNet Radio now under its umbrella, the multi-media company triples its reach to 50 million households.
"We are aggressively acquiring distribution and technology that will position us to become the premiere network in the increasingly important family market," said Chris Wyatt, president and CEO of ComStar Media, in a statement.
FamilyNet was formerly owned by In Touch Ministries, which is led by Dr. Charles Stanley. But as Phillip Bowen, the ministry's Chief Operating Officer, explained, In Touch took the company "as far as possible with our available resources."
"When this opportunity with ComStar Media presented itself, we understood it was God taking FamilyNet to the next level," Bowen stated.
Schuller and Wyatt, former CEO and co-founder of Godtube.com, teamed up earlier this year to create a family-values network and tap into an underserved market.
In May, they acquired AmericanLife TV Network, a network devoted to America's baby boomer generation, and its 12.7 million subscribers.
The network provided Schuller with a platform to return to the media after he was removed from the popular "Hour of Power" television program and stepped down as senior pastor of southern California's Crystal Cathedral last year.
His new program, "Everyday Life," launched on ALN last month.
The latest acquisitions add to the company's library of family-friendly programs. FamilyNet Television features such classic sitcoms as "Happy Days" and "My Three Sons," and FamilyNet Radio includes popular radio programs like "Focus on the Family" and "The Dave Ramsey Show."