China.com relaunched and looks like it was purchased last August for $11.7 Million

There is a report out today from SCMP.com (South China Morning Post) that China.com has been relaunched. The article also mentions the acquistion price of the domains which works out to $11,706,571 in today’s dollar to Hong Kong dollar conversion. The article states the name was purchased for 90,800,000 Hong Kong Dollar which equals 11,706,571.60 US Dollar.

From the article:

China Radio International, a state-owned media conglomerate and new owner of one of the world’s most-coveted internet domain names, China.com, has relaunched the site in an effort to boost the nation’s media presence abroad.

The relaunch of the website, reported on Monday, marked a new turn in the troubled existence of the government-sponsored domain name under a Hong Kong-listed company. China Radio International plans to use the highly coveted address to create the nation’s flagship multilingual online platform.

China.com will help the nation to “create a favourable global public opinion environment”, said Tong Liqiang, executive vice-president of the Beijing government’s internet information office, at an event marking the re-launch in Beijing on Saturday. As of Monday, it features content in eleven languages.

The platform, which has yet to move beyond its current state as yet another government-sponsored website exclusively sharing stories by the state-run media outlets, was acquired for a staggering HK$90.8 million in August last year from China.com Inc. by a holding company owned by the broadcaster. The domain Hongkong.com was also acquired.

Read the full article here

{ 2 comments… add one }

  • Alex January 20, 2014, 7:24 am

    That’s cheap comparing with $11 mil for Hotels.com… I’d sell for at least $20 mil.

    Reply
  • owen frager January 20, 2014, 11:56 am

    Anyone know who owned it. Remarkable that any ordinary Joe could have bought it on open market years ago.

    Reply

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