Lifetime buys into femme site to run ads on cable net

Lifetime Entertainment on Tuesday inked an equity and promotional deal with publicly traded Networks, buying a 4.6% stake in the Web group for an undisclosed amount. Deal calls for to take out $10 million in ads on Lifetime’s femme cable net.

Lifetime is jointly owned by the Walt Disney Co. and giant magazine group Hearst Corp., whose stable includes Cosmopolitan, Good Housekeeping and Redbook. Hearst is also a strategic investor in

The company’s stock jumped 6% Tuesday to $3.25.

New York-based Lifetime passes 78 million homes. is a leading femme Web site. For the six months ended June 30, revenues totaled $26.6 million with a net loss of $32 million.

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