Court Approves Toys.com Sale
Wednesday, March 4th, 2009
Bankruptcy court approves landmark domain name sale.
Judge Brendan Shannon of the United States Bankruptcy Court District of Delaware has approved Toys ‘R’ Us purchase of the toys.com domain name for $5.1M.
The domain name was auctioned last Friday as a continuation of an auction held the first week of February. In the original auction Faculty Lounge Partners bought the domain for $1.25M. As part of the sale to Toys ‘R’ Us (bidding as Eagle, LLC), Faculty Lounge Partners will pick up a $37,500 break up fee (3% of its stalking horse bid) and legal fee reimbursement.
Interestingly, Toys ‘R’ Us was at the first auction but wouldn’t top the $1.25M Faculty Lounge Partners bid. Instead, the toy company bought certain assets of eToys including eToys.com and customer lists.
The domains were auctioned off after The Parent Company, parent company of eToys, filed for bankruptcy in December. Other domains auctioned off in the initial auction included hobbies.com, birthdays.com, and pinata.com.
Related posts:
- Toys ‘R’ Us Buys Toys.com Domain Name for $5.1M
- Toys.com Back On Auction; May Sell for Over $1.25M
- Toys.com, Birthdays.com, Hobbies.com Sold at Auction
Tags: toys 'r' us, toys.com
I am glad Toys R Us pulled it together and got the domain at the end… They could of had it for a lot less the first time around though.. They got lucky!
I am 99% sure that it was their reps / lawyers mistake though.
A costly one.. Few mil worth
Wanna…nah; they didn’t get lucky.
They got smart…after they were first stoopid.
Probably have to raise all their toy prices for the rest o’ da year 5 cents each to pay fo’ their mistake.
[...] DomainNameWire meldet hat das Insolvenzgericht dem Verkauf der Domain toys.com für 5,1 Millionen US-Dollar [...]
[...] ‘R’ Us’ $5.1M purchase of Toys.com has been approved by the court. The domain has not been transferred according to whois, but the domain name is now forwarding to [...]