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News Corp. Invests In PlanetRx

Just after announcing plans to launch a new television network that will focus on health issues, News Corp. Wednesday took an unspecified investment in online pharmacy PlanetRx.

The investment was made by News America Digital Publishing, the Australian conglomerate's online arm.

Peter Chernin, News Corp.'s president and chief operating officer, said the move recognizes the increasing popularity of health information on the Internet.

"This relationship with PlanetRx gives News Corp. an important e-commerce and advertising partnership online and complements our existing fitness strategy at The Health Network, Fox and HarperCollins," he said.

News Corp. later this year will launch The Health Network, a television venture between Fox's fit tv and America's Health Network. The two companies are also planning to re-launch AHN.com, the Web companion to America's Health Network as TheHealthNetwork.com in July.