A Viacom approach to buy Bebo is the latest expression of interest from a traditional media company desperate to reconnect with a young audience, reports the
Financial Times. But Michael and
Xochi Birch, founders of the San Francisco-based social networking site, say they get approached every two weeks, but are in no rush to sell. Traditional media companies are struggling to remain in
touch with younger audiences and seem to want to emulate the News Corp. $580 million buy of MySpace last year. Viacom has been particularly eager to crack the market for user-generated content.
Michael Birch, the chief executive of Bebo, emphasizes that it is traditional media companies, and not Web operations, that are shopping. He declines comment on potential bidders. But he said a report
that a telco had offered $570 million for Bebo "raised our profile in the U.S. more than anything else. It is a ridiculous amount of money."
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