ITV set to sell Friends Reunited at £145m loss
LONDON - ITV is poised to sell Friends Reunited for £25m, four years after buying it for £170m.
The broadcaster is in advanced negotiations with Dundee publisher D C Thomson, according to the Financial Times.
DC Thomson owns titles including Beano and the Dundee Courier as well as family history website FindMyPast.com. The publisher plans to combine the family history site with Friends Reunited’s subsidiary Genes Reunited to create the biggest genealogy business in the UK.
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Despite struggling to retain members in the face of competition from the likes of Facebook, MySpace and Bebo, Friends Reunited still has more than 20m members. However, traffic fell to 1.7m unique users last month.
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