Media Corporation
Media Corp

Media Corporation Sells To Unnamed UK Company For $2.5 Million

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Sedo will announce shortly that it has sold the most expensive domain name of this year so far in its third biggest public sale ever handled behind ($13 million) and ($3 million). The company has brokered the sale of for $2.5 million in cash.

UK-based Media Corpporation sold the domain to an unnamed company also based in the United Kingdom for £1.5 million in cash. According to the seller, the transaction formally completed on 27 April, with the receipt of funds and transfer of the domain name.

The company says it’s ‘pleased’ with the price, although Media Corp apparently paid $20 million for the domain name back in 2005.

Justin Drummond, CEO of Media Corporation, commented:

“The sale of brings a significant boost to the Group’s already substantial cash reserves; we have recently seen a number of exciting acquisition opportunities in the online gaming and online advertising space. The successful sale of has given the Group more than adequate financial resources to pursue these acquisition opportunities aggressively.”

The identity of the new owner isn’t known, but Sedo says the company will be well placed to capitalize on the benefits of such a memorable keyword domain considering the health of the online gambling market in the UK.

Also read: BodogBrand Buys For About $5.8 Million