ITV Sells Friends Reunited Social Network for $42 Million

Authored by Mark Hefflinger on August 5, 2009 - 11:31am.

London - U.K. broadcaster ITV has sold its Friends Reunited online social network to publisher DC Thomson for just $42 million -- four years after it acquired the company for $289 million, the Financial Times reported.

DC Thomson plans to integrate its FindMyPast unit with Friends Reunited's Genes Reunited service, and expand its online genealogy service.

PaidContent noted that ITV had been seeking a purchase price of $102 million as recently as March, via its appointed banker Credit Suisse.

Related Links:
http://snipurl.com/osppk (Financial Times)

http://snipurl.com/ospq6 (PaidContent)

http://www.dcthomson.co.uk

http://www.friendsreunited.co.uk