Reports are circulating that ITV may be selling Friends Reunited for a knock-down £15million, a business it bought for £175million four years ago.
If true, even in these pressured commercial times it says a lot that they are prepared to consider selling the business and taking a paper loss of £160m, and that's before we add up the amount of additional investment, salaries and marketing that has gone into the site since 2005.
The likes of Facebook, myspace and Bebo made the paid-for subscription business model obsolete remarkably quickly, but in ITV's defence, these voracious competitors are not generating profits even now. While NewsCorp and the other social networking site backers are happy to wait and see what the profitability model is, ITV simply doesn't have the pockets deep enough to fight back. It's another example of ITV being a big UK player, but a tiny Global presence.
Stick to the knitting and you might eventually make a jumper to keep your warm in the winter - as someone famous used to say. Make some good TV and sell advertising, that's what you should be good at ITV.