Telegraaf Media Group, which publishes de Telegraaf newspaper in Holland, is buying social networking site Hyves. The network claims to have more than 10 million users.
TMG isn’t naming its price, but says the money is all from existing resources, and it expects Hyves to turn over €20 million for 2010…
Though the likes of Facebook remain ahead of the international, U.S. and UK social networking packs, copycats have taken hold in many European nations, catering to specific linguistic communities. They remain under pressure by the international incumbents pushing at territorial doors and by the take-off of microblogging networks like Twitter.