Media

ITV confirms sale of Friends Reunited

Published Thursday, Aug 6 2009, 11:25 BST | By Mayer Nissim
ITV confirms sale of Friends Reunited
ITV has confirmed the sale of Friends Reunited.

The broadcaster sold its entire shareholding in the business to DC Thomson subsidiary Brightsolid for a total cash consideration of £25 million.

Friends Reunited managing director Andy Baker said: "We are delighted that Brightsolid can see the great value and future potential in the Friends Reunited Group.

"Brightsolid is an innovative online group and by bringing our companies together this way we can build the Friends Reunited business to offer something new and different to our customers."

The acquisition includes spinoff brands Genes Reunited and Friends Reunited Dating, while Brightsold said that it will bring together the former with its own findmypast and ScotlandsPeople websites.

ITV purchased Friends Reunited in December 2005 for £120 million, but earlier this year said that it would dispose of the company as soon as possible as part of a number of cost-cutting measures.
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