on the Market for $10M

January 4, 2011, By Alex Ion

Media Corp is one of UK’s leading companies in internet media. The Brits are the owners of the Internet domain name and according to the London-based Times, they’re ready to let go their asset for a hefty $10 million, or more.

According to our reports, Media Corp has contacted the Germans from Sedo Holding AG to be the broker for this transaction. The reserve price has been set for $9 million, but with several private-equity firms and online gaming companies like Playtech Ltd or bet365, interested in purchasing the domain name, it could easily go North of $10 million.

Media Corp acquired back in May 2005 for $20 million, and earned more than $5.5 million in the next year from advertisements on the site. A search in Google for “gambling” ranks the site in the first position, bringing more than 300,000 unique users every month.

For those of you wondering, the depreciation in value is due to the fact that the US have banned internet gambling on October 2006.

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