Oasis Strike Merger Deal with RSVP

Australian dating site RSVP is to be merged with Oasis.

RSVP is owned by media company Fairfax Media, who publish the Sydney Morning Herald, while Oasis is backed by TV network Ten Network.

Fairfax is merging RSVP with Oasis, with The Australian reporting that they will pay $5m for 25% of shares in the merged business.

This 25% will come from Ten’s 40% share in Oasis.

Following this, the merged business will either trade, float or be sold on the stock market, with a sale the most likely option.

The Australian says sources close to the deal believe Fairfax will fill positions in Oasis, to take control of the company.

The agreement values Oasis at around $40m.

Oasis has become one of Australia’s largest dating sites since their launch in 2008, and have a strong South American presence in Argentina, Chile and Colombia.

Ten Network’s 40% share in the company came from a combination of free advertising on the network and cash.

Fairfax Media have been criticised for selling their profitable digital assets, such as the sale of accommodation business Stayz for $220m last December, and the sale of auction website Trade Me in 2012.