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Sale of Friends Reunited.

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BrendafromWales

BrendafromWales Report 27 Jul 2009 11:09

Just read in the Business section of yesterday's Telegraph that FR is on the verge of being sold to an internet entrepreneur,Peter Dubens for a knock down price of £15m.doesn't say if it includes GR.
Brenda

Joy

Joy Report 27 Jul 2009 13:33


It includes GR; what a loss financially for ITV!

~~~Secret Red ^^ Squirrel~~~ **007 1/2**

~~~Secret Red ^^ Squirrel~~~ **007 1/2** Report 27 Jul 2009 13:50

How much have they lost?

**just popping off now - hopefully will read tonight?**

Joy

Joy Report 27 Jul 2009 13:59

http://www.guardian.co.uk/business/2009/jul/26/itv-friends-reunited-peter-dubens-bid
ITV set to offload Friends Reunited at £160m loss

Internet entrepreneur Peter Dubens has emerged as a potential bidder for Friends Reunited, offering to end ITV's disastrous experiment with online social networking at a massive 90% discount to what the broadcaster paid for the website four years ago.

ITV put Friends Reunited up for sale in February as the drop in online advertising revenues forced the company to dramatically writedown the value of a business that had cost it £175m.

Analysts believe Friends Reunited is worth about £20m to £40m, but private equity firm Oakley Capital is understood to have offered just £15m. Oakley is backed by Dubens, who also has connections through another investment vehicle with Michael Birch, the founder of rival networking site Bebo.

Despite speculation over the weekend that Oakley is in exclusive talks over a deal, ITV insiders maintain that several other parties are also interested and the price being suggested is very much at the bottom end of the range being discussed. An ITV spokeswoman refused to comment.

Merlin

Merlin Report 27 Jul 2009 15:42

Depends on how many Shares you,ve go Joan.**M**pmsl.

Researching:
Vlad the Impaler and Dracula. Wend,Prickly,Island,GG.+CC.+DIZZY & Mersey.

~~~Secret Red ^^ Squirrel~~~ **007 1/2**

~~~Secret Red ^^ Squirrel~~~ **007 1/2** Report 27 Jul 2009 18:54

wow! They've lost 90%!