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Dot-tv domain name nets Tuvalu $50m

By Sally Watson

Published: 10 April 2000 15:40 BST

The tiny nation of Tuvalu in the Pacific is cashing in on its Internet county code - dot-tv.

According to US news reports, the domain name provider, DotTV, has agreed to pay the nation $50m in royalties over the next ten years for the use of the dot-tv domain.

The Idealab-backed company hopes to attract Web start-ups and established brands competing in the overcrowded dot-com space. The company will pay Tuvalu a minimum quarterly payment of $1m - the country's largest single source of income.

Tuvalu, a group of nine islands in the South Pacific, has a population of just over 10,000.

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