Vegas.com tries to take LasVegas.com for $12m

[aww]

http://www.lasvegassun.com/sunbin/stories/text/2004/oct/08/517637350.html

The company that operates the VEGAS.com Web site has asked a Clark County District Court judge to permit it to purchase the rights to use the rival lasvegas.com domain name.

Court records say that in July Greenspun Media offered $12 million for the rights to the lasvegas.com name. Stephens was issued the "notice of intent" a day after the offer was made. On Aug. 19, Sherman Frederick, president of Stephens Media, sent a letter exercising the company's option rights. But on Aug. 24, VEGAS.com President Howard Lefkowitz responded that the Stephens bid did not match the terms of the VEGAS.com offer.

If this transfer happens, it will be the highest (public) domain name sale ever!

 

[RJ]

I've said it before: The first 8 figure (> $10 mil) domain transaction is coming soon -- and when it does, expect a big boost to our industry from the resulting publicity. This happened in the domain industry when business.com and altavista.com sold for millions. We can all look forward to benefiting when it happens!

 

[aww]

The only downplay to that is that these are rich media groups doing the money slinging, no single individuals involved. But as our industry evolves I suspect there will be more and more partnerships emerging (and buyouts, especially around bulk domain renewal times!)

 

[Raf]

Your definately right aww, these people are rich rich rich and they will do whatever it takes to get rights or their hands on popular key-phrased domain names.