How The Master Of JDate And Christian Mingle Lost At the continuing business Of Love

How The Master Of JDate And Christian Mingle Lost At the continuing business Of Love

Spark Networks, owner of JDate, Christian Mingle, along with other dating internet sites, is dealing with a tough activist campaign by the hedge investment Osmium Partners, which will be seeking to unseat the board and force a purchase for the company that is troubled.

Then Spark Networks, owner of JDate, Christian Mingle, and a handful of other niche dating sites, is about to get its heart broken if love is a battlefield.

Osmium Partners is practically specific to win the four board seats it is gunning for when Spark holds its yearly shareholder conference a few weeks, sources acquainted with the problem said, allowing the activist hedge fund to take solid control and force a sale associated with company. Initially planned for June 17, Spark has delayed the meeting that is annual June 28, a move these sources stated is targeted 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 beneath the “LOV” stock ticker, declined to comment beyond citing the business’s general general public filings.

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