£120m for Friends Reunited

ITV, apparently having decided its output is so high quality it can waste money on dotcom acquisitions, has decided to spend £120 million on Friends Reunited. Nutters.
Does anyone really bother with Friends Reunited any more? I haven’t updated my entry in a year. Neither has anyone else at any of the schools, clubs, workplaces, etc that I went to. The bulletin boards aren’t clogged up with people chatting. None of the people who failed to sign up when it was at its peak have had a change of heart recently.
It’s dead. It’s so 2001-2003.
If ITV really has that much money to throw around, perhaps it might like to spend more on decent programming and its ITN contract so that the latter’s journalists can afford to eat food for a change.