CNN Picks Up

    January 18, 2008

Perhaps we’re just happy it’s Friday, but this sounds like good news all around: CNN has bought the domain for $750,000.

Michael Learmonth reports that the seller was Rick Schwartz, and that Schwartz paid between $70 and $100 to register both and (which he tossed into the deal for free) in 1997.  That’s a tidy enough profit to pay for a few Lamborghinis.CNN Picks Up

The arrangement, as a whole, is also a sort of endorsement of bloggers; even if so-called "iReporters" don’t necessarily put writing or recordings online, the same style of citizen journalism is a hallmark in both groups.

Want to look at this in a wider fashion?  Call the sale a boost to eBusiness, considering that it took place despite the Nasdaq’s plummet.  Or even a boost to the economy in general, since the DJIA took a similar fall.

All right, maybe our positive outlook is just caused by your typical Friday euphoria, but in any case, domain name sales of this magnitude are worth noting; Ron Jackson writes, "A $750,000 deal would have ranked among the 12 largest sales of 2007."