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Media company Fairfax Media Limited (ASX:FXJ) and TV network Ten Network Holdings Limited (ASX:TEN) will merge their online dating services to pursue growth.Fairfax’s RSVP and Ten’s Oasis Active will now come together to form a business with combined operations worth $90 million.Once the deal is done Fairfax will hold a 58 per cent stake in the merged entity, Ten will hold a 17 per cent interest, Oasis founders will retain 14 per cent and the balance will be held by a small number of minority shareholders.RSVP and Oasis executive teams will continue to manage the businesses and each brand will continue to focus on its target market segment.The merged entity will aim to strengthen its position in Australia, target efficiencies, scale up for advertising and product development and pursue international growth opportunities through reinvesting strong cash flows from Australian operations into higher growth emerging Latin American markets.Fairfax Media reported a net profit of $194 million in the first half of the 2014 financial year.
