They still have a lot to learn when it comes to domain names.
A reader informed me that they were in the auction for MySpace.co and that the domain sold for $25,000.
The whois record now confirms that Twentieth Century Fox, which is owned by NewsCorp, which also owns MySpace.com, is the new owner of the domain.
Of course as the trademark holder, Fox could have just applied for the domain in the Sunrise period for around $300 and gotten the domain.
Moreover, one would think that they would have had a very good chance of getting the domain through a WIPO proceeding for 1/4 of the price they paid at auction.
In any event, failing to protect your intellectually property for pennies on the dollar with a simple sunrise application is inexcusable and having to pay $25K for something you could have gotten for $300 is either pure neglect or outright stupidity.
Speaking of Stupity, even after spending that $25K to acquire the domain they could have gotten for $300, the domain isn’t even resolving to MySpace.com.
Although the domain seems to have quite a bit of traffic, with an Alexa ranking of 700K, Fox hasn’t even updated the Name Servers and the domain is going to a parked Network Solutions page. I’m sure Net Sol is enjoying the extra revenue.
With hundreds of new extensions on the horizon, Corporate America better start getting a better understanding of the domain space or at least hire a domain company to advise them (I can recommend one right offhand)