ITV to cut costs

plans to sell web directory and social network

[brotherhood of LAN]

[news.bbc.co.uk...]

ITV has announced it is cutting 600 jobs across its businesses, and plans to make other "significant" savings.

ITV's cost-cutting measures include:
* Plans to sell Friends Reunited. ITV bought the social networking site for £120m in December 2005. It is now valued at about £40m
* Plans to sell its online business directory Scoot

I haven't came across "scoot" in years. I wonder how much it's worth?

[sem4u]

Plans to sell Friends Reunited. ITV bought the social networking site for £120m in December 2005. It is now valued at about £40m

Ouch! Friends Reunited was big a few years ago but now everyone is on Facebook. They should have made all of their features free back then.

I haven't heard about Scoot for ages and I can't think it would be worth that much really (compared to Yell.com, etc.)

Bad news for people working at ITV then, but any business that relies solely on advertising revenues will suffer in a downturn.

[simonuk]

I think the main problem is ITV just doesn't produce anything worth watching these days. Now F1 has moved to BBC1 there is nothing I want to watch on ITV and I can't remember the last time I did watch anything on ITV.

[engine]

Their online offering, in most cases, such as FRU, were bought up when they saw an opportunity. They didn't have their finger on the pulse and soon dropped the FRU subscription. By then, it was too late for it to become a social online venue. Folks had moved on to Bebo, FB, MySpace, etc.

As to their TV offering, most of it puts me off. There are a few programmes i'll watch, but not many. But then, I'd guess they are not targeting me.

They did do well with the F1 coverage, and adding the Friday practive on the website, but the site has far too much advertsing on it, and I detest the pup-unders.

I'll happily accept a balance of adverts, but not too many as it puts me off.

[mack]

Friends renunited used to be huge, but now I hardly use it. Many of the people I got in touch with through there, I now communicate with through other channels.

I think Lycos where in the market to buy FR, but Lycos itsself is no longer opperating in the UK. I dont see who would now buy FR?

Regarding their programing, they do offer some good stuff, but to be honest I prefere whats shown on the BBC, incientlly Neil, BBC now have the right on F1 so all racing and no ads. :)

ITV almost had the right idea a few years ago when they introduced micro regions for advertising, but I don't think a lot of companies saw the potential, although the return might not be great compared to radio ads, or more importaintly online ads.

Mack.

[engine]

>BBC now have the right on F1

Yay! I'm counting down the minutes already. 10days, 7 hours, 25 minutes to go to first practice.

>micro regions for advertising

The problem is, Mack, most people don't get the idea of how micro regions (local) might benefit them. Couple that to the fact that pro-rata reduced rates, minus a little more, should be easier to do and more cost effective for advertisers.