ITV writes down Friends
January 2, 2009
ITV's year end review of acquisitions has determined it will have to write down the value of Friends Reunited. Analysts argue the company could have made the contact site a leader in social networking but, instead, its audience has halved from 4.3m beween 2007 and 2008. ITV paid £175m (E220m) in 2005 for the business.
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