Live Current (Communicate.com) Signs $50 Million Cricket Deal
Thursday, April 17th, 2008
Company that owns Cricket.com signs deal with major cricket league.
Live Current (OTCBB: CMNN.ob), an internet company that owns premium domain names such as Cricket.com, Boxing.com, Brazil.com, and Perfume.com, has inked a ten year $50 million deal with DLF Indian Premier League, a cricket organization.
Live Current will become the exclusive online provider of content from the Board of Control for Cricket in India (BCCI) and the DLF Indian Premier League. This signifies the first cricket-related content and distribution relationship by Live Current as the Company plans to build and launch its Cricket.com asset as the future cricket “DestinationHub” for cricket fans globally.
As part of the deal, Live Current will guarantee $5 million in revenue sharing payments each year for ten years. This is a massive deal for a company that took in less than $10 million in revenue in 2007. New company management is clearly sending a high growth message to shareholders.
In February, Domain Name Wire reported that the company said it turned down a $6 million offer for the domain name Cricket.com. Cricket.com used to be a parking page and now has a “coming soon” message.
A recent financial filing also shows that the company sold geo domain name Surrey.com for $200,000 CAD (roughly equivalent to U.S. dollars) in January of this year. Surrey is a county in England. The sale is structured as a lease with payment occurring over a two year timeframe.