(Online Dating Industry Journal) There is a buzz that ITV is planning to buy UK social networking site Friends Reunited sometime this week. Friends Reunited, which started as a school reunion website and has since expanded into online dating, job hunting, and geneology, was launched in 2000 by couple Steve and Julie Pankhurst with computer specialist Jason Porter and is currently managed by Michael Murphey.
Murphey put up a letter on the Friends Reunited website announcing the acquisition. He explained:
"When ITV approached us we immediately clicked; they share our values, they're a national institution that is trusted and well loved, and by joining with them, Friends Reunited will become the UK's 8 th most visited site giving us access to a vast audience so we can connect even more of you even more of the time.
Rest assured that the principles Friends Reunited have been founded on will not change; the group of sites will remain simple to use, family friendly, confidential and always great value for money and your details including email address will remain totally safe and secure with us."
According to an article by The Mail, "ITV is poised to buy Friends Reunited this week for £120m in cash. And there is a further £50m if performance targets are hit in the first three years of its acquisition."
To read the full article, click here.
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