Media group takes over Dutch networking site Hyves

1st November 2010, Comments 1 comment


Dutch social networking website Hyves has been bought by Telegraaf Media Groep TMG. TMG publishes the country’s best-selling popular daily, De Telegraaf, has a majority interest in commercial radio market leader Sky Radio, and also owns rightwing shockblog

Dutch Facebook rival Hyves claims to have around nine million users. With the Hyves takeover, TMG says it will reach 62 percent of the Dutch public online. Apart from its De Telegraaf and Geenstijl websites, TMG’s internet presence covers everything from real estate and dating websites to local online newspapers.

In a press release, Hyves assures its users that nothing will be changing on the site. TMG has declined to reveal how much it paid for Hyves, which expects a 2010 turnover of 20 million euros.

Hyves – the name refers to ‘beehives’ – initially eclipsed its international competition, but is now facing increasingly stiff competition from Facebook.


© Radio Netherlands Worldwide

1 Comment To This Article

  • Lovely Grub posted:

    on 1st November 2010, 11:56:19 - Reply

    So lots of lovely telegraaf adverts for the Hyves addicts to further clutter up the already garish pages.