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Read this: ITV set to offload Friends Reunited at 160m loss |Business |guardian.co.uk

Summary: The Friends Reunited social networking website was bought by ITV for 175m in 2005, but has remained problematic for the broadcaster. ITV put Friends Reunited up for sale in February as the drop in online advertising revenues forced the company to dramatically writedown the value of a business that had cost it 175m. Analysts believe Friends Reunited is worth about 20m to 40m, but private equity firm Oakley Capital is understood to have offered just 15m. - guardian.co.uk

Read full article: www.guardian.co.uk link icon  ITV set to offload Friends Reunited at 1…



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