Read this: Carole Cadwalladr: A malign show on a bankrupt TV channel |Comment is free |The Observer
Summary: We've all made shopping mistakes, those never-to-be-worn impulse purchases left mouldering in a plastic bag at the bottom of the wardrobe, but in ITV's case, it would have to be a pretty big bag, large enough to hold a 175m website and not the sort of thing MS will give you a credit note for. Four years ago, it bought Friends Reunited, which was, even then, the internet's version of the poncho, briefly fashionable, already hopelessly dated, paying 175m or, as it turns out, around 160m too much. And, last week, it was doing the corporate equivalent of sticking it on eBay, crossing its hot little corporate fingers and hoping for a buyer. - guardian.co.uk
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