IAC's Match.com Buys People Media Dating Sites for $80M

Authored by Mark Hefflinger on July 7, 2009 - 6:19am.

New York - IAC (NASD: IACI), the Internet holding company that operates sites including Citysearch and Match.com, announced on Monday that its Match.com dating site will acquire People Media, an operator of dating sites, from American Capital Ltd. for $80 million in cash.

People Media counts nearly 4 million unique monthly visitors to its 27 dating sites, which include BlackPeopleMeet.com, SingleParentMeet.com and SeniorPeopleMeet.com, as well as all of AOL's Personals communities.

The company, which posted $11.6 million in earnings last year, counts some 255,000 paying subscribers.

http://www.peoplemedia.com