17th of May 2011 Author: Johnny Karp
Sport.co.uk goes for GBP 200 000
This week, it was announced by online gaming and media group, Media Corporation PLC that it has sold another of its domains Sport.co.uk to an unidentified buyer for GBP 200 000.
The acquisition of the domain consists of an upfront payment of GBP135 000 and further payment of GBP65 000 over the next 12 months. It also entails the provision that its online advertising division, Eyeconomy Ltd, will continue to manage the sales function for the website on a revenue sharing basis.
According to Media Corp CEO Justin Drummond, 'The sale of Sport.co.uk brings another boost to cash reserves and removes another loss making asset from our diverse online publishing business. The Group's trading performance will continue to improve as we sell loss making assets and re-focus the Group on our profitable and fast growing businesses.'
Prior to this, Media Corp sold another one of its unprofitable domains, gambling.com, for $2.5 million to UK affiliate marketing company, KAX Media which runs the WSN.com sports betting portal.
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