ITV are believed to have put Friends Reunited up for sale, as it looks to rein in expenses.

The early social networking site which allowed people to sign up and find their own school friends was a huge hit in the UK, but has since been transcended by the likes of MySpace and, more critically, Facebook.

£120 million

ITV paid £120million for Friends Reunited in 2005, with further payments due this year, with The Guardian suggesting at least some of that cash has been paid.

However, with ITV cutting costs as television advertising revenues plummet, and job cuts on the horizon for the broadcaster, it appears that Friends Reunited could be sold off.

So if you're in the market for a slightly frayed social network with one less than careful owner, your bid could be considered.