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.
Related posts:
- Domain Name Got Live Current Cricket Deal
- Cricket.com Takes Shape; Live Current Announces New Deal
- Live Current Sells Cricket.com
Tags: communicate.com, cricket.com, geo domains, live current
[...] Domain Name Wire: Live Current (OTCBB: CMNN.ob), an internet company that owns premium domain names such as [...]
I think this is the start of an error in the value of generic domains – corporates realising the full potential of the domain bar as a search tool. Congratulations on this great venture. Great report.
Great NEWS – LOVE THIS ONE
[...] indeed some of the most sought-after on the internet. Live Current / Communicate.com, for example, turned down a $6M offer for domain Cricket.com, which is yet to be developed. Of course, the prospective audience for this one is much greater [...]
[...] has a new slate of management that is proving aggressive. In April Live Current signed a ten year, $50 million deal with with DLF Indian Premier League (a cricket league), which will probably be integrated into Cricket.com. In March it acquired Auctomatic, an early [...]
[...] The company reported a gross profit of $352,435, but expenses of $2,343,285. The math doesn’t work out too well, especially when you figure in additional expenses over $1 million related mostly to its cricket venture. [...]
[...] Live Current Media ha vendido el dominio Cricket.com por 1.75$ millones a GCV Mauritius. 1 millón de dólares será pagado en metálico en cuatro plazos trimestrales y el resto cubrirá responsabilidades pasadas y futuras de Live Current con la DLF Indian Premier League. [...]