the meet group prosieben

Geoffrey Cook, CEO, The Meet Group: ... ProSieben, kabel eins, sixx, SAT.1 Gold, ProSieben MAXX, and kabel eins Doku is the Number 1 in the German audience and TV advertising markets. ProSiebenSat.1 and General Atlantic teamed up to sign with their joint company NuCom Group an agreement for the acquisition of the US online dating and social entertainment provider The Meet Group (NASDAQ: MEET). The Meet Group announced today that it has entered a definitive agreement to be acquired by NuCom Group, the joint company between European mass media organisation ProSiebenSat.1 and private equity firm General Atlantic. FINANZEN.AT - June 10 - ProSieben is planning to spin off its dating business unit from the subsidiary Nucom and "bring it to the stock exchange at the right time at a profit," said board spokesman and CEO/CFO Rainer Beaujean. By combining the Parship Group and the US-based The Meet Group, we have created a leading global player in the dating field forming the new ParshipMeet Group. Reuters first reported the news late on Wednesday. Meet Group shares rose as much 21% on the news, and were trading up 9% at $5.52 in the afternoon session in New York on Monday, giving … has staked a $500 million bet on romance by buying U.S. dating app developer Meet Group Inc. , but the deal was a turn-off for investors who sent the German broadcaster's shares down as much as 10% to a decade low. By carving out Parship Group from NuCom Group, ProSiebenSat.1 forms a strong fourth pillar in a highly … A Prosieben led acquisition of the Meet Group would, therefore, result in at least 15-20% dilution to … The Meet Group’s CEO Geoff Cook to Speak at Safety Tech 2021. The envisaged shareholding structure also takes a pre-merger Enterprise Valuefor the Parship Group of EUR 726m into account. At Thursday’s share price of 10 euros, that represents a yield of more than 8%. Italy's Mediaset MS.MI, which has amassed a 15% stake in ProSieben as part of a wider push to bring about broader TV industry consolidation in Europe, declined to comment. Meet Group shares jumped 20% to $6.64 on the news. Our Standards: The Thomson Reuters Trust Principles. CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share data) Three Months Ended December 31, According to Guinness World Records, the largest known speed dating event took place in Dublin, Ireland on February 14, 2019, welcoming 964 people. ProSieben shares were down 2.2% at 0829 GMT on Tuesday, making them the biggest percentage faller on Germany’s midcap benchmark MDAX, which was barely changed. ProSieben and General Atlantic, the minority partner in its e-commerce joint venture NuCom, jointly offered $6.30 per share in cash for Meet Group in the agreed transaction. Although ProSieben owns 75% of NuCom and General Atlantic 25%, the Meet Group deal was structured so that ProSieben actually committed less cash than General Atlantic to the takeover. Analysts expressed concern that the Meet Group deal and risks to profitability could further strain ProSieben’s capacity to support a debt burden that, at 2.6 times core earnings, is already outside management’s target range. Reuters first reported the news late on Wednesday, lifting Meet Group’s shares by 23% to close at $6.82. Deal structure demonstrates excellent collaboration between ProSiebenSat.1 and General AtlanticProSiebenSat.1 Group and General Atlantic will jointly finance the acquisition with cash contributions of $232m (EUR 209m (2)) and $306m (EUR 276m (3)),respectively. “This is an exciting time for The Meet Group,” said Geoff Cook, Chief Executive Officer of The Meet Group. We look forward to joining forces with Parship Group and leveraging their industry experience to continue to advance our mission of helping users connect in a meaningful way.”, Tim Schiffers, CEO Parship Group: “Following the successful acquisition of eharmony, we have proven that we can manage new businesses and accelerate their growth by combining the best of both worlds. ProSiebenSat.1 announced the acquisition of The Meet Group through Nucom for ~$500M in March. The sources requested anonymity because the matter is confidential. 17 talking about this. EBITDA 12.8x / incl. German broadcaster ProSiebenSat.1 Media SE's e-commerce arm NuCom Group is nearing a deal to acquire Meet Group Inc that could value the U.S. dating app developer at … NEW HOPE, Pa.-- (BUSINESS WIRE)--The Meet Group, Inc. (NASDAQ: MEET), a leading portfolio of mobile dating apps, today announced that it has … Meet Group shares rose as much 21 per cent on the news and closed on Monday 5.3 per cent higher … Its mobile apps are available on iOS, and Android in multiple languages. THE MEET GROUP, INC. AND SUBSIDIARIES. In another sign of financial strain, management proposed a cut in the 2019 dividend to 0.85 euros, down from 1.19 euros the year before. Through these apps, users can stream live video, send gifts, chat, and share photos. The Meet Group Reports Fourth Quarter and Full Year 2019 Financial Results. The company has millions of mobile daily active users. Based in New Hope, Pennsylvania, Meet Group … The combined company operates as ParshipMeet Group, a newly-minted unicorn and a leading global player in the online dating market. Meet Group shares rose as much 21% on the news and closed on Monday 5.3% higher at $5.33, giving the company a market value of $382 million. Meet Group and Prosieben declined to comment. As a result, ProSieben would own just 55% of the merged dating business - a structure that Conze said reflected caution on how he commits the company’s cash. The acquisition of The Meet Group with its leading portfolio of mobile dating apps will further diversify the matchmaking and dating platform, and willscale the combined entity’s geographical presence and breadth. Meet Group shares rose as much 21% on the news and closed on Monday 5.3% higher at $5.33, giving the company a market value of $382 million. Max Conze, CEO, ProSiebenSat.1 Media SE: “The acquisition of The Meet Group is one of ProSiebenSat.1’s largest transactions. The cash price consideration to The Meet Group’s shareholders is $6.30 per share, valuing The Meet Group at approximately $500m enterprise value. "We are currently targeting the 2022 financial year for this." Meet Group and ProSieben declined to comment. Corporate Communications | Corporate & Finance Communication, Daniel Rosemann, Channel Manager, ProSieben, Kelly McPherson, Emre Sahin, Sarah Wetherbee, »Our biggest achievement is having a truly creative-led company.«, Emre Sahin, Executive Producer and Founding Partner Karga Seven, »The ProSiebenSat.1 Employees do great work.«, Dr. Sunniva Engelbrecht, Member of the Executive Board at startsocial, Materiality Analysis and Stakeholder Dialogue, ProSiebenSat.1 Group closes 2020 with strong fourth quarter: Growth of 11% in revenues and 12% in adjusted EBITDA, ProSiebenSat.1 Group exceeds expectations for revenues and adjusted EBITDA in full-year 2020 noticeably, DISCLOSURE OF AN INSIDE INFORMATION ACCORDING TO ARTICLE 17 MAR: ProSiebenSat.1 Group exceeds expectations for revenues and adjusted EBITDA in full-year 2020 noticeably, https://www.prosiebensat1.com/en/investor-relations/presentations-events/ma, Vision of creating leading global player in the online dating segment by combining NuCom’s Parship Group with The Meet Group, Cash price to Meet Group shareholders of $6.30 per share, valuing thecompany at approximately $500m enterprise value, Acquisition multiples for The Meet Group: EV/LTM Sales 2.4x, EV/LTMAdj. Meet Group, Bed Bath & Beyond, Sanderson Farms, Pilgrim?? By combining their industry expertise as well leveraging their complementary fit and user bases in the core markets, Parship Group will become a global leader in the online dating market with expected double-digit annual revenue growth rates. NuCom Group, which is jointly owned by ProSiebenSat.1 and General Atlantic, will contribute Parship Group to a newly formed company. (4) Based on EUR/USD exchange rate of 1.11, subject to condition at closing date. Based in New Hope, Pennsylvania, Meet Group is a … Meet Group shares rose as much 21% on the news, and were trading up 9% at $5.52 in the afternoon session in … Meet Group and ProSieben declined to comment. to warn of a 10% short-term hit to ad revenues. “This will increase pressure on the group to consider asset sales but at this point there is no mention of it and the Meet acquisition will increase leverage risk in the near-term,” Citi analysts said in a note. September 4, 2020. ProSieben declined to comment, while Meet Group did not respond to a request for comment. “At a stroke you are creating a top-3 global player, while the portfolio has huge synergy potential.”. The Group has tapped into an additional attractive business area through the distribution of its television channels in HD quality. ProSiebenSat.1 Media SE plans to buy The Meet Group Inc. in an all-cash deal as the German broadcaster tries to counter a drop in TV advertising revenue by … Responding to those concerns, Conze said he took leverage very seriously and he was committed to compensating the cash outflow for Meet Group with other “portfolio movements” during the course of 2020. The following information was filed by Meet Group, Inc. (MEET) on Wednesday, March 11, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of … Advertisement. BERLIN (Reuters) - ProSiebenSat.1 Media PSMGn.DE has staked a $500 million bet on romance by buying U.S. dating app developer Meet Group Inc MEET.O, but the deal was a turn-off for investors who sent the German broadcaster's shares down as much as 10% to a decade low. Meet Group shares rose as much 21% on the news and closed on Monday 5.3% higher at $5.33, giving the company a market value of $382 million. Business Wire. Through its arm NuCom Group, the broadcasting company currently holds stakes in Parship, Elite Partner and eharmony. ProSieben forecast that revenues would grow by 4% this year while adjusted EBITDA would be flat, reflecting the squeeze on profitability from its push into lower-margin digital projects as its commercial TV cash cow declines. The regulators are not concerned about ProSieben’s current presence in the online dating industry. NuCom Group owns portfolio company Parship Group which looks after the online dating brands Parship, Elite Partner and eharmony. In total the brands of The Meet Group have approximately 4.46m mobile daily active users, focusing on a target group of men and women between the age of 18 and 34 years+. Munich/Hamburg, March 5, 2020. Meet Group shares rose as much 21% on the news and closed on Monday 5.3% higher at $5.33, giving the company a market value of $382 million. ProSieben and General Atlantic, the minority partner in its e-commerce joint venture NuCom, jointly offered $6.30 per share in cash for Meet Group in the agreed transaction. ParshipMeet Group's management team is continued to be led by industry experts with proven operational expertise, including Tim Schiffers (Group CEO), Henning Rönneberg (Group CFO), Marc Schachtel (Group COO), and Geoff Cook (CEO of The Meet Group and General Manager Video). “The acquisition of The Meet Group is one of ProSiebenSat.1’s largest transactions. We continue to consolidate our position in the online dating market and extend our business model by adding social entertainment. German television network ProSiebenSat.1 has published its annual report for 2020, which includes more details about September’s formation of ParshipMeet ProSieben and General Atlantic, the minority partner in its e-commerce joint venture NuCom, jointly offered $6.30 per share in cash for Meet Group in the agreed transaction. "ProSieben to Buy Dating Firm Meet Group in Tough TV Market". The Meet Group (NASDAQ:MEET) gains as Reuters sources say Prosieben's NuCom is considering an acquisition. All quotes delayed a minimum of 15 minutes. Meet Group and ProSieben declined to comment. Additional reporting by Elvira Pollina; Editing by Michelle Martin and Jane Merriman. The Meet Group, Inc. (formerly MeetMe) owns several mobile social networking services including MeetMe, hi5, LOVOO, Growlr, Skout, and Tagged. Over the past four years, NuCom Group has established a profitable online matchmaking platform – Parship Group – through the acquisition of Parship and ElitePartner in Germany in 2016, followed by the acquisition of US-based eharmony Group in 2018, globalizing the company. I am looking forward to working with our new colleagues to solidify our international footprint.”. The company, which is listed on NASDAQ, generated approximately $206.6m of revenues and approximately $39.5m of Adjusted EBITDA1 for the twelve months period ending September 30, 2019.Attractive value creation by strengthening core vertical of NuCom GroupNuCom Group has a proven track record of successful value creation for investors and their portfolio companies. The goal is to create a leading global player in the online dating segment by combining NuCom’s portfolio company Parship Group with The Meet Group. The established and well-known brands Parship, eharmony and ElitePartner offer science-based online dating to create long-term relationships. Geoffrey Cook, CEO, The Meet Group: ... ProSieben, kabel eins, sixx, SAT.1 Gold, ProSieben MAXX, and kabel eins Doku is the Number 1 in the German audience and TV advertising markets. ?s Pride and Lamb Weston highlighted as … NuCom, the owner of eharmony, has signaled its interest. The German broadcaster recently made a $500m investment in dating app developer The Meet Group, sending shares to new lows, ... Beaujean was named CFO at ProSieben in July and before that had worked for packaging manufacturer Gerresheimer. Meet Group shares rose as much 21% on the news and closed on Monday 5.3% higher at $5.33, giving the company a market value of $382 million. The acquisition is expected to close in the 2nd second half of 2020 and is subject to the satisfaction of customary conditions, including approval of The Meet Group’s shareholders and receipt of required antitrust and regulatory approvals.Two leading businesses with complementary strengths and unique product offerings in their respective highly attractive market segmentsAfter a successful closing of the transaction, Parship Group will cover the complete spectrum of the online dating market. Link has been the co-CEO of entertainment for the German media giant since 2019, originally joining in 2009 and introducing shows such as The … The Meet Group announced today that it has entered a definitive agreement to be acquired by NuCom Group, the joint company between European mass media organisation ProSiebenSat.1 and private equity firm General Atlantic. We have committed ourselves to high standards, adopted industry-leading practices, and vowed to constantly improve with the best-in-class safety updates across our platforms. The Meet Group's MeetMe and SKOUT will be partnering with Plenty of Fish to host the World's Largest Virtual Speed Dating event on Sunday, September 20 at 8:00 p.m. EDT. Meet Group and ProSieben declined to comment. Through its arm NuCom Group, the broadcasting company currently holds stakes in Parship, Elite Partner and eharmony. Meet Group and ProSieben declined to comment. Try refreshing your browser, or tap here to see other videos from our team. The deal, the boldest move yet by CEO Max Conze to escape a downward slide in ProSieben’s core commercial TV franchise, foresees folding Meet Group into NuCom’s own dating business, Parship Group, with a view to a possible listing in 2022. The Meet Group’s dating app portfolio includes MeetMe, Skout, German app Lovoo and niche gay dating app Growlr, all of which would be under NuCom. “I believe the transaction with ProSiebenSat.1 is a tremendous validation of our strategy to marry livestreaming video with dating. German television network ProSiebenSat.1 has published its annual report for 2020, which includes more details about the formation of ParshipMeet Group in September. “The combination...is a unique value-creation opportunity for us,” Conze told Reuters in an interview. The NuCom Group owns matchmaking platforms eharmony, Parship and Elite Partner. The Meet Group transaction is expected to close in the second half of the year, subject to regulatory and shareholder approval, and be accretive to net income in the first year. The Company leverages a live-streaming video platform, empowering global community to forge meaningful connections. ProSieben Sat.1 runs the online dating platforms Parship and Elite Partner. It explained that the decision to acquire The Meet Group was driven by the dating company's live streaming capabilities. The Federal Cartel Office, Germany’s national competition regulator, has approved ProSieben’s proposed takeover of The Meet Group. Joern Nikolay, Managing Director General Atlantic: “Nearly two years ago, we entered into this partnership with ProSiebenSat.1 and NuCom Group with a clear mission to create category leaders. Meet Group shares rose as much 21% on the news and closed on Monday 5.3% higher at $5.33, giving the … Although ProSieben owns 75% of NuCom and General Atlantic 25%, the Meet Group deal was structured so that ProSieben actually committed less cash than General Atlantic to the takeover. Meet Group and ProSieben declined to comment. The Meet Group was ahead of its time in regard to video technology, and was the first western app company to debut a … ProSieben shares were down 2.2% at 0829 GMT on Tuesday, making them the biggest percentage faller on Germany’s midcap benchmark MDAX, which was barely changed. Mar 23, 2021. Meet Group shares rose as much 21% on the news, and were trading up 9% at $5.52 in the afternoon session in … ProSieben declined to comment, while Meet Group did not respond to a request for comment. Meet Group and Prosieben declined to comment. Meet Group declined to comment, while Prosieben … The Group has tapped into an additional attractive business area through the distribution of its television channels in HD quality. We are proud to be a partner of both ProSiebenSat.1 and NuCom Group as we work to createlong-term value and growth.”, Geoffrey Cook, CEO, The Meet Group: “We are excited about this transaction and the significant benefits resulting from a combination with NuCom’s Parship Group. net income accretive for ProSiebenSat.1 in firstyear (pro forma 2020E), ProSiebenSat.1 committed to its financial leverage target range of1.5x-2.5x, Transaction expected to close in the second half of 2020, After the successful closing, Parship Group will cover the completespectrum of the online dating market: from science based online. ProSiebenSat.1’s and General Atlantic’s Parship Group has successfully completed the acquisition of The Meet Group, following regulatory approval from all required authorities. The acquisition will increase the net debt position of ProSiebenSat.1 Group by c. EUR 209m (4) and will result a slight increase of financial leverage (pro-forma full year 2020E). German broadcaster ProSiebenSat.1 Media SE's e-commerce arm NuCom Group is nearing a deal to acquire Meet Group Inc that could value the U.S. dating app developer at … Bloomberg. (1) Adj. However, ProSiebenSat.1 Group is strongly committed to its targeted financial leverage in the range of 1.5x to 2.5x.
the meet group prosieben 2021