Match.com (IAC) Agrees to Buy People Media

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I had a hint of what was coming from People Media a few days ago since I had been in contact with them while I have been working on a BlackPeopleMeet.com review (which will be out soon).

InterActiveCorp (IAC) announced that it has agreed to purchase People Media for $80 million USD from American Capital Ltd. This will add an additional 27 dating sites to their inventory and over 255 thousand paying subscribers. After the sale of Match.com's European operations (see Story), IAC has 24 dating sites (including existing partnerships). Once this acquisition is complete the total will be 51 different dating sites. People Media's dating sites for the most part are all in niche markets. A few of the more popular sites include the afore mentioned BlackPeopleMeet.com, LoveandSeek.com, SingleParentMeet.com, and SeniorPeopleMeet.com. In 2008, People Media's dating sites generated $11.6 million in earnings before interest, taxes, depreciation and amortization (EBITDA).

In March of this year People Media also announced a partnership with AOL Personals to bring niche online dating to their visitors (see Story). Match.com and eHarmony have partnerships with AOL as well. IAC also has expressed interest in possibly purchasing Yahoo! Personals if it becomes available (see [story: Match-com-in-Talks-Buy-Yahoo-Personals Story]). Spark Networks has been looking for a buyer for over a year now (see Story) but, we haven't heard of any interest by IAC to make an offer.

For more details, read the press release at IAC. For more information on IAC's top dating site, read our Match.com review.