In early June, we reported “Barry Diller Is In A Buying Mood.”
Well crank the Barry White, people, because it’s time to get it on.
PaidContent reports IAC (IACI) will acquire People Media, a company that owns a portfolio of dating sites, for $80 million in cash.
People Media is owned by American Capital Ltd. and other investors.
Its 27 sites include BlackPeopleMeet.com, LDSPlanet.com, SingleParentMeet.com, SeniorPeopleMeet.com. Together, the sites claim 255,000 paying subscriptions.
PaidContent broke the story, and reports:
People Media earned $11.6 million in 2008 before depreciation and amortization. Fourteen-year-old Match.com had some 5.8 million unique users in May, according to comScore.
Business Insider Emails & Alerts
Site highlights each day to your inbox.