The owners of Australia's biggest dating sites have agreed to a marriage of convenience.
RSVP and Oasis have said “I do” after their parents, Fairfax Media and Ten Network, agreed that the two businesses were a suitable match.
Fairfax bought RSVP in 2005 for a reported $38 million.
The merger values the single entity at some $90 million.
Fairfax will hold a 58% stake, Ten 17% and Haigh and Heysen 14%.
The remaining 11% is held by minority shareholders.
While Oasis has a completely free model, RSVP's business model includes a cost element beyond sign-up and initial contact.
It is not yet clear whether those models will change under the new ownership structure.
See the announcement posted below: Ten Network Holdings Limited [ASX: TEN] have agreed to a merger of online dating businesses, RSVP (com.au) and Oasis Active ( bringing together two of Australia’s largest online dating services businesses.
Now, while it appears each will keep its maiden name, the two will consummate a relationship to create a love child with exotic tastes: Latin American growth is noted in the ASX statement.
The union could also help seed a more meaningful bond between the two media companies.