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. We are in the wrong business!

The deal was negotiated last year but closed in the last few days. Domain Name Journal said had it gotten done last month, it would have ranked among the 12 biggest domain transfers of 2007. Schwartz said threw in close variant i-report.com as a freebee upon closing the deal.

Presumably, CNN bought iReport.com to support its "iReport" program, which encourages amateur correspondents to submit video. Fox News is also airing user generated video, via its own "uReport". Note to various cable networks based in Atlanta and New York: From what we can tell, ureport.com is available.