Business
Investment in Accent Media Ltd
Investment in Accent Media Ltd.
About this update from Team Internet Group Plc
[{"type":"text","content":"\n \nRNS Number : 1964S CentralNic Group PLC 22 September 2014 \n \n\n \n\n\n\n\nPress Release\n\n\n22 September 2014\n\n\n\n\n \nCentralNic Group plc\n \n(\"CentralNic\" or \"the Company\" or \"the Group\")\n \nInvestment in Accent Media Ltd, the new rights holder for the new \".tickets\" Top-Level Domain\n \nCentralNic plc (AIM: CNIC), the internet platform business which derives revenues from the global sale of domain names, today announces that further to the announcement on 18 September 2014, the Group is investing US$ 1.62 million in Accent Media Ltd (\"Accent Media\"), the successful applicant for the .tickets new Top-Level Domain (\"TLD\"). CentralNic's investment will equate to around 12% equity stake in the share capital of Accent Media (£1 ordinary shares).\n \nThe investment comes as part of CentralNic's on-going strategy of investing in Top-Level Domain applicants as well as acting as a business partner to their operators, as announced at the time of CentralNic's listing on AIM in September 2013. The Group's invested funds were used by Accent Media to acquire the .tickets domain in a private auction, winning a contention set which included four other applicants. In addition to this, CentralNic has entered into a contract with Accent Media to be both the exclusive wholesaler (\"registry service provider\") and one of the retail partners for the .tickets TLD. \n \nCommenting on the investment, Ben Crawford CEO, of CentralNic plc, said: \"The .tickets Top-Level Domain will be a compelling new tool to assist consumers in easily identifying legitimate and trusted ticket sales sites, as well as empowering venues, entertainers and sports organisations to improve their use of the internet by enabling fans to purchase tickets safely and securely. We are delighted to be working with Accent Media in delivering this innovative new tool for the ticketing industry, and we look forward to delivering real benefits to consumers as soon as possible.\"\n \nAccent Media Founder Steve Machin added: \"We have brought together top specialists from across the ticketing and domain name industries to execute the vision for the .tickets domain. We look forward to working with CentralNic to deliver what we believe will be one of the most innovative uses of a new T...