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How Who Owns JDate And Christian Mingle Lost At the continuing business Of Love

How Who Owns JDate And Christian Mingle Lost At the continuing business Of Love

Spark Networks, owner of JDate, Christian Mingle, along with other dating web sites, is dealing with a intense activist campaign because of the hedge investment Osmium Partners, that will be trying to unseat the board and force a purchase associated with the difficult business.

If love is just a battlefield, then Spark Networks, owner of JDate, Christian Mingle, and a number of other niche internet dating sites, is approximately getting its heart broken.

Osmium Partners is practically specific to win the four board seats it is gunning for when Spark holds its yearly shareholder meeting a few weeks, sources knowledgeable about the specific situation said, allowing the activist hedge investment to seize control and force a sale associated with business. Initially planned for June 17, Spark has recently delayed the meeting that is annual June 28, a move these sources stated is directed at purchasing Spark additional time to rally investors to vote down Osmium’s proposal or preempt a forced sale by securing a unique buyout offer.

A agent for Spark, which trades underneath the «LOV» stock ticker, declined to comment beyond citing the business’s public filings.

Osmium, which has 15percent of Spark, established its proxy battle in December 2013, citing just exactly what it claims are Spark’s bad business governance, payment issues, and stock price that is declining. The hedge investment additionally alleges that Spark has mismanaged JDate, its «crown jewel,» and therefore its Christian networks have actually been underperforming in accordance with their online dating sites peers. Прочитать остальную часть записи »

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