Yep, Jason Porter and Steve Pankhurst were attempting to resurrect it by buying back for £1 from DC Thompson. 

I put them in touch with Michael Birch who had bought Bebo back for a $1 a year earlier.
(I knew Michael's brother Paul from Adam Street Club in London, where he was the entrepreneur in residence.)

Both the Bebo and Friendsreunuted buybacks failed to spawn anything useful.