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Online Dating and Matchmaking Industry Forums Business Message Board for the Internet Dating, Online Personals and Matchmaking Industry
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opwmark Active-iDate-User
Joined: 07 Jun 2006 Posts: 193 Location: New York
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Posted: Tue Oct 27, 2009 10:56 pm Post subject: FriendFinder Networks Could Look To Sell Non-core Businesses |
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MERGER MARKET - Oct 26 - FriendFinder Networks, formerly known as Penthouse Media, filed for an IPO in December, anticipating $460m in proceeds to help pay off its debt. FriendFinder could look to sell off non-core pieces of its business that may be distracting to potential investors including GradFinder and Christian dating site BigChurch, online dating industry consultant Mark Brooks said. The company would likely keep its highly lucrative adult sites. Its adult social networking and live interactive video sites comprised 95% of the company’s revenue, as of six months ended 30 June 2008. FriendFinder’s international properties could also be spun out to a media company with more expertise in certain geographic markets, said Noel Biderman, CEO of Toronto-based Avid Life Media, the holding company of dating sites like HotOrNot and Ashley Madison. He pointed to IAC-owned Match which took a 27% stake in European dating operator Meetic in February, in exchange for Match’s European operations, as an industry example of this. In the case of FriendFinder, its Latino dating site Amigos has a strong membership base, and could be sold to an acquirer that can better grow and monetize the brand, Brooks noted. FriendFinder’s sites may fetch 7x to 8x EBITDA, Biderman said, using Match’s USD 80m acquisition of People Media in July as a comparable transaction.
MORE NEWS @ ONLINE PERSONALS WATCH[/url] _________________ Mark Brooks
Editor, Online Personals Watch
mark@onlinepersonalswatch.com
USA: 212-444-1636, UK: 020 8133 1835 |
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