19/05/2011, Online casino

The online gaming and media group Media Corporation plc has announced the successful sale of the Sport.co.uk domain for £200,000 in cash.

The acquisition of the domain by an unidentified buyer is comprised of an upfront payment of £135,000 to Media Corp and a further payment of £65,000 over the next 12 months.

In 2010, Sport.co.uk, which generated revenues of £62,000 and losses of £170,000 was valued at £135,000.

“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,” CEO of the Media Corporation Justin Drummond said.

In April 2011 the UK-based Media Corporation has sold gambling.com, the most expensive domain name of this year so far, for $2.5 million in cash. Gambling.com was the third biggest public sale ever handled, behind sex.com, sold for $13 million and vodka.com for $3 million.