ITV favourite for Friends Reunited buy-out

Bolt on for broadband TV apparently

By Tim Richardson • Get more from this author

Posted in Financial News, 7th November 2005 11:11 GMT

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The auction to acquire Friends Reunited could be about to close after reports that ITV has agreed to stump up more than £150m to buy up the old school chum network.

So, why is the UK commercial broadcaster so interested in Friends Reunited? Well, according to The Sunday Times, ITV wants to explore other revenue-earning opportunities and it reckons there's money to be made from the net.

Last month ITV switched on a broadband TV service on the south coast of England. The service is aimed at viewers in the Brighton and Hastings area who will be able to tune into channels featuring local content including news, weather and entertainment guides via a broadband connection. Once this service is rolled-ot nation-wide ITV reckons the addition of Friends Reunited will make a splendid fit.

If all goes to plan the deal could be confirmed this week leaving the likes of BT, News Corp and Daily Mail & General Trust - which all registered their interest in buying the business - to mull over what might have been. ®

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