ITV sells Friends Reunited as it sinks further into the red

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

Britain's largest free-to-air broadcaster went deeper into the red as the recession saw advertisers cut back on spending.

Net advertising revenues slumped by 15%, down £108 million on last year's takings, but ITV said the rate of decline had slowed in the second half as advertising stabilised.

Even Susan Boyle's Britain's Got Talent performance couldn't help the broadcaster avoid a loss. The show reached a peak audience of nearly 20 million viewers, making it the highest rating non-sports programme on TV in six years. ITV's £105 million pre-tax loss compares with a £1.5 billion loss in the same period of 2008, but that figure included a one-off £1.6 billion charge that reduced the value of investments made in 2000 and 2004.

The broadcaster said UK television advertising suffered "its worst year-on-year decline on record over the first half".

It slashed costs by £57 million over the first half and said it plans to save £98 million more over the full year.

The Friends Reunited sale is hugely discounted: ITV paid £120 million for the website in 2005, and was due to pay a further £50 million this year depending on performance. It put the site up for sale in February as part of a sale of assets to raise funds.

The division of DC Thomson that bought the site, Brightsolid, already owns findmypast.com, which operates the official 1901 and 1911 census websites.