VeriSign Buys .tv

Mike Damm writes: "As everyone is so worried about Microsoft these days, another monopoly is slipping through the cracks. VeriSign has paid the country of Tuvalu $45 million in cash for The .TV Corporation, as stated by this press release. Same great service, different obscure TLD!"

Comments

Monopolies aren't that terrible

[ender-iii]

Monopolies aren't that terrible as long as they don't bend us over and aim for penitration.

karma whoring courtest the CIA

[mattbelcher]

from the CIA fact book on Tuvalu:

Population: 10,991 (July 2001 est.)
Age structure: 0-14 years: 33.28% (male 1,862; female 1,796)
15-64 years: 61.6% (male 3,241; female 3,529)
65 years and over: 5.12% (male 236; female 327) (2001 est.)

Government type: constitutional monarchy with a parliamentary democracy; began debating republic status in 1992
Capital: Funafuti

Economy - overview: Tuvalu consists of a densely populated, scattered group of nine coral atolls with poor soil. Subsistence farming and fishing are the primary economic activities. Government revenues largely come from the sale of stamps and coins and worker remittances. About 1,000 Tuvaluans work in Nauru in the phosphate mining industry. Substantial income is received annually from an international trust fund established in 1987 by Australia, NZ, and the UK and supported also by Japan and South Korea. Thanks to wise investments and conservative withdrawals, this Fund has grown from an initial $17 million to over $35 million in 1999. The US government is also a major revenue source for Tuvalu, with 1999 payments from a 1988 treaty on fisheries at about $9 million, a total which is expected to rise annually. In an effort to reduce its dependence on foreign aid, the government is pursuing public sector reforms, including privatization of some government functions and personnel cuts of up to 7%. In 1998, Tuvalu began deriving revenue from use of its area code for "900" lines and in 2000, from the sale of its ".tv" Internet domain name. Royalties from these new technology sources could raise GDP three or more times over the next decade. In 1999, with merchandise exports falling and financing reaching less than 5% of imports, continued reliance was placed on fishing and telecommunications license fees, remittances from overseas workers, official transfers, and investment income from overseas assets to cover the trade deficit.

GDP: purchasing power parity - $11.6 million (1999 est.)

Looking at that last number, it looks like Tuvalu got something like 4x their GDP on this deal.