ProSiebenSat.1 ties up with Parship
The ProSiebenSat.1 TV group is acquiring a majority stake in the online dating service Parship Elite. The broadcasting group will hold 50 percent plus one share of the Internet service going forward.
The purchase price amounts to EUR 100 million. In addition, ProSiebenSat. 1 is redeeming debts of EUR 100 million and converting them into preferred equity. The previous owners, the financial investor Oakley Capital and the management of Parship, remained on board as minority shareholders. In total, the online matchmaker is valued at 300 million euros. "In particular, the synergies between online dating and TV will decisively promote the growth of Parship Elite in the German market," ProSieben added. Following the acquisition of majority stakes in the comparison portal Verivox and the online travel agency Etraveli, the acquisition of a majority stake in Parship is already the third acquisition of this size. ProSiebenSat.1 wants to become less dependent on traditional TV advertising and generate half of its revenues from alternative sources by 2018. Digital offerings in particular are a priority for the media group. (SDA)
