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Last Updated: Thursday, 16 March 2006, 12:54 GMT
US group buys uSwitch for 210m
Electricity bill
Consumers switch suppliers for cheaper energy bills
Price comparison website uSwitch.com has been taken over by US media group EW Scripps in a 210m ($366m) deal.

Scripps owns a range of newspapers and TV stations and syndicates cartoon characters such as Peanuts and Dilbert.

It will combine uSwitch.com and its own Shopzilla price comparison site within a new interactive media division.

uSwitch.com compares prices on utility and telecoms bills and financial services and is expected to make a profit of 6m to 9m this year.

Earlier this year, uSwitch said it was looking to sell itself or list its shares on the stock exchange, with an estimated value of just over 100m.

The company was owned by private investors, including Lord Milford Haven, cousin of the Queen, and its employees.

uSwitch.com does not charge its users for accessing the site, but gets a fee from the supplier if the consumer chooses to change providers.




SEE ALSO:
Website uSwitch considers float
20 Jan 06 |  Business
Does switching still save cash?
15 Sep 05 |  Business
Watchdog highlights power savings
08 Sep 05 |  Bradford
How to beat rising household bills
29 Jun 04 |  Business
Switching onto bigger savings
17 Jan 02 |  Business
Online cost comparison gets easier
10 Oct 00 |  Business


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