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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:
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20 Jan 06 |  Business
Does switching still save cash?
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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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