REUTERS – ProSiebenSat.1 plans to buy General Atlantic's stakes in ParshipMeet, Verivox, and Flaconi to gain full control and sell them more easily. It may issue new shares – up to 10% of its capital – without a shareholder vote, which would dilute existing investors, including MFE – MediaForEurope (nearly 30% owner). MFE has secured €3.4B to fund a possible takeover, which could trigger a €2.1B debt repayment if it gains more than 50% control. ProSieben's market value is €1.4B.
Category: Outlets – Reuters
Anson Funds Plans Proxy Fight at Match Group
REUTERS – Hedge fund Anson Funds is preparing a proxy fight at Match Group, aiming to nominate directors to its 10-member board as it pushes for cost cuts, governance changes, and a strategic review of MG Asia. Despite owning only 0.6% of Match, Anson has raised concerns over board connections, executive turnover, and the company's ties to former owner IAC/Interactive. Match's stock has dropped 67% in three years, making it a target for activist investors, including Elliott Investment Management and Starboard Value, who have also pressured the company for changes. Elliott secured two board seats after a $1 billion investment in early 2024. Anson, led by Sagar Gupta, argues that Match's response has been too slow, and with only three board seats up for election this year, investor frustration is growing, setting the stage for a heated boardroom battle.
ProSieben Shares Hit as Investors Question Digital Asset Strategy
REUTERS – ProSiebenSat.1 shares dropped sharply after the company announced it's in talks to buy back General Atlantic's minority stake in NuCom Group, which owns several digital businesses, including ParshipMeet Group. This would give ProSieben full ownership of ParshipMeet and other NuCom assets while Verivox (a price comparison site) and Flaconi (a perfume retailer) are still being prepared for sale. Investors reacted negatively because they expected ProSieben to sell off non-TV businesses and not buy more of them. This follows pressure from its biggest shareholders, Italy's MFE-MediaForEurope and Czech group PPF, to focus only on its core broadcasting business.
by Isabel Demetz & Klaus Lauer
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Bumble Appoints New CFO
REUTERS – Ronald Fior has been named interim CFO of Bumble, effective March 15. He takes over from Anu Subramanian, who is stepping down next month. Fior, a partner at FLG Partners, has extensive CFO experience and currently serves as a consultant to Bumble, a role he will continue alongside his CFO duties.
Grindr Shielded From Rape Lawsuit by U.S. Appeals Court
REUTERS – A U.S. federal appeals court ruled that Grindr is not liable for matching a 15-year-old user with four adult men who raped him. The 9th Circuit upheld that Section 230 of the Communications Decency Act protects the platform from liability over user content. The victim, who misrepresented his age, sued for negligence and failure to warn about risks. Three attackers were imprisoned, while one remains at large. The court found Grindr's features "content neutral" and rejected claims of active sex trafficking. The victim's lawyer criticized the ruling, hoping for a Supreme Court review.
Spencer Rascoff Named CEO of Match Group
REUTERS – Match Group appointed Spencer Rascoff as its new CEO amid declining user engagement and a weaker-than-expected revenue forecast. Shares fell 9% after the company projected 2025 revenue between $3.38B and $3.50B, below analysts’ estimates. The company continues to face slowing demand, increased competition, and declining paying users, which fell 4% in Q4, marking the ninth consecutive quarter of decline. Spencer Rascoff is succeeding Bernard Kim. Rascoff, a former Zillow CEO and co-founder of Hotwire and Pacaso, has been on Match Group’s Board since 2024 and brings extensive experience in scaling consumer tech businesses. Rascoff aims to drive the next phase of growth.
by Judy Babu
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Judge Orders Tinder Addiction Claims to Arbitration
REUTERS – A U.S. judge ruled that claims accusing Match Group of designing addictive dating apps must be resolved through individual arbitration rather than a class-action lawsuit. The plaintiffs, from several states, alleged the apps prioritized profits over users’ relationship goals and used features to encourage addictive behavior, violating consumer protection laws. Match argued that its user agreements mandated arbitration, a stance the judge upheld, putting the case on hold. The ruling is part of a broader trend, with similar lawsuits targeting tech companies like TikTok and Snapchat for allegedly designing addictive platforms.
China’s Marriage Rates Dip Further in 2024
Tinder to Provide EU Users With More Clarity on Prices to End Probe
REUTERS – Tinder will improve pricing transparency for premium services in the EU after consumer watchdogs raised concerns. The app uses automated methods to offer personalized discounts, but users were not informed, breaching consumer laws. Tinder will now clearly disclose personalized discounts and their factors. The EU stresses the need for transparency. Tinder stated discounts are applied evenly based on various factors. Compliance will be monitored, with fines possible for non-compliance.
A New Lawsuit Claims Match Group’s Apps Encourage Compulsive Use
REUTERS – Match Group was sued on Wednesday in a proposed class action claiming that its dating apps Tinder, Hinge and The League are designed to addict users, generating more profit for the company, rather than help them establish relationships. Match employs features "to gamify the platforms to transform users into gamblers locked in a search for psychological rewards that Match makes elusive on purpose," according to the complaint filed in federal court in San Francisco. The six plaintiffs – who live in California, Florida, Georgia and New York – called this inconsistent with Match's ad slogan that its apps are "designed to be deleted." Match rejected the plaintiffs' claims.
by Jonathan Stempel
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