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Potential bidders eye ITV's Friends

STRUGGLING broadcaster ITV has received considerable interest in its social networking business Friends Reunited, which it has put on the market in an attempt to save cash.<br /><br />A string of potential bidders are understood to have approached the company, including US-based The Generation Network, which owns Ancestry.com and Genealogy.com &ndash; highlighting the appeal of the site&rsquo;s Genes Reunited brand.<br /><br />ITV&rsquo;s disposal of Friends Reunited was announced in March this year, following a &pound;2.7bn full year loss for the broadcaster. Analysts estimate the business is worth around &pound;40m.<br /><br />It acquired the social networking site for &pound;175m in 2006 as it sought to diversify a revenue base already being hit by declining TV ad revenues.