ITV buys Friends Reunited
ITV, has agreed to buy Friends Reunited, the website that links old school friends together for £120m
6 December 2005 11:48 GMT / By Stuart Miles
ITV, has agreed to buy Friends Reunited, the website that links old school friends together for £120m.
The website, which has over 15 million registered users was set up in 2000 by Husband and wife team Steve and Julie Pankhurst.
ITV said it would pay an extra sum of up to £55m in 2009, according to Friends Reunited's performance.
The acquisition is part of a strategy to build content based businesses which create and monetise direct consumer revenue for ITV and follows on the back of launches of ITV Mobile and ITV Local earlier this year, and will launch a new Interactive TV service, ITV Play, in the New Year.
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