Broadcaster ITV unveiled a £120m (€177m) deal for Friends Reunited today in a move that dramatically boosts the fortunes of its founders.

The sale of Friends Reunited for more than £120m (€177.4m) appeared to move a step closer today after a report said broadcaster ITV was near to a takeover deal.

Friends Reunited – the website that brings old acquaintances together – is in talks with potential takeover bidders, it was revealed today.

Friends Reunited was today said to have appointed advisers to help review its options, in a move that could lead to a sale worth up to £120m (€172m).

Website Friends Reunited is launching a series of CDs to bring back memories of schooldays.