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Monday, 10 August 2009

DC Thomson buys Friends Reunited

Via Forbidden Planet International and others:: Scottish publishing empire DC Thomson, home to long-loved titles like the Beano, Sunday Post and the Dandy among many other publications, has bought the Friends Reunited website through its subsidiary Brightsolid Limited.

DCT subsidiary Bright Solid picked up the site for £25 million according news reports, buying it from seriously struggling commercial broadcaster ITV, which bought it for £120 million only four years ago.

City analysts have estimated the value of Friends Reunited at between £20m and £50m.

The Guardian notes that the social networking arm of Friends Reunited is the least profitable part of the business, particularly after its subscription service was dropped in May last year, just before the bottom fell out of the advertising market.

Friends Reunited also runs a dating operation – which primarily handles white-label online dating services for companies including Daily Mirror publisher Trinity Mirror – and Genes Reunited.

The transaction is subject to approval by the competition authorities.

Read the BBC News Story)

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