German TV giant buys US dating site eHarmony
October 30, 2018
German media company ProSiebenSat.1 purchased the matchmaking site eHarmony in the company's first major e-commerce deal since launching a joint venture with investment firm General Atlantic.
The Munich-based broadcaster announced the takeover on Monday, with ProSieben CEO Max Conze calling the deal "an excellent fit."
ProSieben already owns German online dating giant Parship. Like eHarmony, Parship uses an algorithm to suggest matches for people from its database. Users also have to pay in order to access the full functions of the site.
"Bringing these two strong brands together will immediately create a world-leading online matchmaking company," Conze said.
A statement from ProSieben did not disclose how much the company paid for eHarmony, although the Financial Times cited a source as saying that the acquisition valued the business at $85 million (€74.7 million) — much less than rival US company Match's estimated value of $13.7 billion.
As part of the deal, eHarmony CEO Grant Langston will remain in his position, while the management of ProSieben's Parship will join the company's supervisory board.
The purchase could prove a significant step for the German broadcaster, which has been seeking to move away from its TV core, which is being disrupted by streaming platforms like Netflix.
eHarmony was founded in 2000 in Los Angeles and expects to register 2.8 million new users this year.
rs/ (dpa, Reuters)