ITV cuts losses on Friends Reunited
ITV will sell Friends Reunited for £25 million as it posts losses of £105 million for the first half of 2009.
The broadcaster has agreed a deal with Brightsolid, a division of publisher DC Thompson, which encompasses all Friends Reunited properties, including Genes Reunited and Friends Reunited Dating. ITV bought the company in a £175 million deal in 2005.
ITV revealed the sale as it posted pre-tax losses of £105 million for the first six months of the year, while advertising revenues were down by 15 per cent to £108 million.
Source: New Media Age
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http://www.nma.co.uk/itv-cuts-losses-on-friends-reunited/3003172.article
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