ITV to sell Friends Reunited at £160m loss

ITV is understood to be close to finalising a deal for Friends Reunited with internet entrepreneur Peter Dubens.

Duben’s private equity firm Oakley Capital is in exclusive talks with ITV to agree a deal for around £15 million, a £160 million loss on the price the broadcaster paid for the site in 2005, according to the Mail on Sunday.

However, ITV sources claim there are other parties interested in the social network website so they may be able to obtain a higher price.

The commercial broadcaster put Friends Reunited up for sale in February this year with the hope of making £60 million.

However, the site’s value has dropped significantly since ITV acquired it due to the popularity of rival sites such as Facebook and MySpace.

The number of unique users logging in to Friends Reunited has fallen to 1.7 million, down from 5 million three years ago, according to comScore data.