Dutch social network Hyves has been bought by the Telegraaf Media Group (TMG) for an unspecified amount, paid for by its own funds. TMG said that social networks are taking an increasingly important role in the orientation and purchase process of consumers. The media group expects the acquisition to give a significant boost to its objective of achieving a larger revenue share from digital media. The acquisition is also expected to have a positive effect on TMG EPS. TMG's Central Works Council has to still officially give its stamp of approval to the purchase. Hyves, with around 9 million registered users, went on sale at the end of September. Telecompaper estimated the value of the social network at around EUR 100 million.
