ITV to sell Friends Reunited
LONDON - Friends Reunited has reportedly been put up for sale as owner ITV tries to scale back costs.
ITV bought the online social network in 2005 in a deal worth £120m, but the online community has since struggled against rival sites such as Facebook.
ITV chairman Michael Grade has already taken steps to cut costs across the company with popular programmes, such as Wire in the Blood, already cancelled and around 1,000 job cuts.
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Friends Reunited was founded by husband and wife Steve and Julie Pankhurst with business partner Jason Porter.
Friends Reunited
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