The Sunday Telegraph has learned that ITV is contemplating the sale of Friends Reunited and other digital assets as part of a cost-cutting drive that could see at least 500 jobs axed by Britain’s biggest commercial broadcaster.
The company is examining the plans ahead of ITV’s full-year results on March 4, when it is expected to unveil fresh proposals to help it weather a deepening downturn in advertising revenues. ITV is reviewing whether to sell Friends Reunited, the social networking operation which it bought in 2006 for