engine - 2:25 pm on Apr 7, 2010 (gmt 0)

AOL May Sell or Close Bebo [news.bbc.co.uk]

Internet company AOL has announced plans to sell or shut down the social networking site Bebo. The company said it was unable to provide the "significant investment" Bebo needed to compete with its social networking rivals. The news comes just two years after AOL bought the site for $850m (£417m at the time). A strategic evaluation of the company is expected to be completed by the end of May.