By Denny Jacob
Match Group is finding common ground with its activist investors.
The online-dating company said it's entered into an information-sharing agreement with Anson Funds Management. The agreement comes a few weeks after Anson nominated three candidates for election at the company's annual shareholder meeting.
Anson, one of three known activists with a stake in Match, said it's agreed to withdraw its nominations and its proposal to declassify the board.
"We look forward to engaging constructively with Match Group towards the pursuit of long-term growth and value creation," said Sagar Gupta, a portfolio manager at Anson.
Dallas-based Match on Tuesday said it will add Kelly Campbell, the former president of NBCUniversal's streaming platform Peacock, as a new director to its board at its annual meeting.
The composition of Match's board was a point of contention for Anson, which had criticized the company's long-term underperformance as a product of poor corporate governance and board oversight.
Match earlier this month said it will ask for shareholder approval to declassify its board so members are elected annually instead of for staggered three-year terms. If stockholders approve the proposal, directors elected at the 2026 annual shareholder meeting will have one-year terms.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
April 29, 2025 08:31 ET (12:31 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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