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Official: Friends Reunited is up for sale

Friends Reunited up for sale
Friends Reunited up for sale

Among the frankly depressing news that ITV has posted pre-tax losses of £2.7 billion, is news that the broadcaster has officially put Friends Reunited up for sale.

ITV bought the online venture back in 2005 for £120 million, just before the social-networking boom.

Since then the website has struggled to compete with the likes of MySpace and Facebook.

Dispose of Friends Reunited

In a statement today, the broadcaster announced: "Online, ITV is focused on delivering ITV content via and VOD.

"Consistent with this strategy, ITV Local will close as a stand alone business. ITV will seek to dispose of Friends Reunited and Scoot. Separately, ITV is considering options for its digital terrestrial multiplex business, SDN."

TechRadar reported back in February that ITV was looking to offload the website, even though it is still currently paying for it.