THE publisher of the Sunday Post newspaper has received a boost from UK competition authorities in its bid to buy one of the original social networking websites, Friends Reunited.
DC Thomson subsidiary, Brightsolid, had been hoping to buy Friends Reunited last year, but the move was stalled when the proposed purchase was referred to the Competition Commission by the Office of Fair Trading. Six months on, the commission has now given provisional approval to the sale proceeding.
There had been fears that the combination of Friends Reunited’s genealogy spin-off, Genes Reunited, with Brightsolid’s Find My Past and 1911Census.com websites might result in too much market domination.
The sale price reported last year between Friends Reunited owners, ITV, and DC Thomson was £25 million. ITV purchased Friends Reunited for £125 million five years ago.
The Commission is now accepting feedback on its verdict, to be received by the 11th of next month.