ITV to win Friends Reunited bidding war?

ITV looks likely to be the winner in the battle to buy schoolmate-finding website Friends Reunited.

According to reports, ITV is the frontrunner in the acquisition race and is thought to have beaten off competition from the likes of BT and Rupert Murdoch's News Corp.

It was rumoured there were six suitors in the running for the site. However, reports put ITV's eventual buying price for the school reunion business between £150m and £170m, with the sale to be announced as early as next week.

Such a deal with ITV would net Julie and Steve Pankhurst, the husband and wife team who founded the site, some £30m.

ITV has been eyeing up new revenue streams of late, such as launching its own broadband service.

Interestingly, Jeff Henry, head of ITV Consumer said last week the broadcaster has been looking at acquisitions outside of broadcasting, adding: "Expect some announcements imminently."