By Tim Richardson for The Register
This article has been reproduced from The Register, with
permission.
For broadcaster ITV, the acquisition of Friends Reunited gives
it the chance to generate content online which, in turn, will help
attract much needed advertising bucks.
Jeff Henry, director of ITV Consumer said: "The acquisition of
Friends Reunited is also a key step in the delivery of our strategy
to drive new revenue streams for the company.
"I am confident that Friends Reunited's unique sites and
comprehensive subscription base, combined with ITV's services and
vast range of content will prove both compelling and
profitable."
Friends Reunited was launched in July 2000 in the back bedroom
of founders Steve and Julie Pankhurst. Since then it has grown into
a massive operation with five key content areas including school
reunions, dating and genealogy. It has some 15m registered users in
the UK and more than one million paying punters.
Friends Reunited is forecast to generate £12.4m in revenues this
year with EBITDA (earnings before interest etc) of £6.6m.
© The Register
2005
