Deal Of the Day: CNN Pays $750,000 For Web Address
CNN just made self-styled “Domain King” Rick Schwartz a happy man. The network paid $750,000 to acquire urls ireport.com and i-report.com from Schwartz, who told SAI he paid “$70 or $100” to register the domains back in 1997.
Context & Ripple Effects
CNN has been expanding its web operation through a push for more local news online, a public beta redesign and a Google advertising agreement. Securing both spellings gives the network control of a concise web identity while preventing a third party from using it.
The price sits within an established market for valuable internet addresses: coverage had already documented large payoffs for domain sellers, while the prospective Business.com sale underscored how web names were being treated as strategic assets rather than simple registrations.
First-order effects
- CNN gains ownership of ireport.com and i-report.com, removing Rick Schwartz’s control over web addresses that fit the network’s online-news efforts.
- Schwartz converts registrations reportedly bought for $70 or $100 into a $750,000 sale, providing a conspicuous valuation point for comparable domain holders.
Second-order effects
- Media companies building distinct online products face greater pressure to secure matching domains early, before a reseller can charge a premium for them.
- Domain investors gain another high-profile reference point in negotiations with corporate buyers, though a media-network purchase does not establish a universal price for web addresses.
Third-order effects
- If major publishers keep treating memorable addresses as brand infrastructure, the domain aftermarket becomes more closely tied to corporate product launches and digital expansion rather than resale speculation alone.
The trend: Premium domain names are becoming strategic digital-brand assets for media companies expanding their online products.