Feeds

ITV to write down Friends Reunited value, says report

There's no such thing as a free, chummy lunch

Top 5 reasons to deploy VMware with Tegile

Friends Reunited could see its carrying value slashed by ITV when the television channel releases its year-end review of past acquisitions.

The Sunday Times reported that the review, which is undertaken by ITV CEO John Cresswell, is expected to conclude that Friends Reunited is worth less than when the firm bought it in December 2005.

ITV acquired the proto-social network site for £120m, and at the time said it would cough a further £55m if the operation hit certain numbers in 2009.

The company stopped charging users of its service in May 2008 as part of a broader plan to integrate Friends Reunited with ITV’s other dating and genealogy sites, as well as compete with the likes of Facebook and Bebo, of course.

It had been charging £7.50 every six months to those people willing to part cash for the ability to make contact with ex-school and work chums. The reunion website launched in July 2000 and claims 19 million members worldwide.

ITV, whose online revenue slowed in the first nine months of 2008 with income rising six per cent to £25m, will announce its full year results on 4 March. It declined to comment on the write down. ®

Beginner's guide to SSL certificates

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.