Bert Habets, the CEO of ProSiebenSat.1 has announced that its dating division the ParshipMeet Group is up for sale and is “no longer part of the core business”.

Reuters reports that in a phone interview with Habets, the CEO shared that it was on the lookout for a new owner for the ParshipMeet Group, but that an initial public offering was unlikely.

This is part of ProSiebenSat.1’s  newly-announced plans to cut jobs and reduce costs. For the ParshipMeet Group, Habets stated that the next steps were to streamline the dating business “and then as the next step find the best owner for this asset”.

ParshipMeet Group is the parent company of well known social and dating brands MeetMe, Skout, GROWLr, LOVOO, and eharmony.

Last week, the dating company announced restructuring of its businesses and leadership, with former co-CEO Geoff Cook leaving the company and Marc Schachtel being promoted from co-CEO to CEO.