Fairfax, publisher of the The Sydney Morning Herald, today said it had bought the privately owned online dating service RSVP.com.au for a whopping $38.92 million ($29M USD).
Fairfax group executive Alan Revell said RSVP had solid revenue growth, high margins and strong cash-flow generation.
RSVP’s number one position reflects its approximately 600,000 members and a well-regarded, respected brand. As well as online dating, RSVP was the first site in Australia to offer mobile dating through 3, Optus Zoo and Telstra i-mode.
John Fairfax said the business was expected to generate earnings before tax of at least $4 million in the 2006 financial year.
Fairfax will offer RSVP the same way publishers in the US partnered with SpringStreetNetworks to offer online personals across media and publishing websites.
Full story.
[tags: fairfax]
