TUVALU INVESTING MORE IN .TV
FUNAFUTI, Tuvalu (April 24, 2001 Radio Australia)---Tuvalu is investing
more of its own money in the company that is marketing its Internet
suffix -- .tv.
Radio Australia correspondent Sean Dorney reports that Tuvalu is
acquiring another US$ 3 million worth of stock in the DotTV corporation
"Tuvalu's Finance Minister Lagitupu Tuilimu told the parliament in
Funafuti that under the stewardship of the DotTV corporation in Los
Angeles, .tv has become the fastest growing top-level domain name in
"He said the corporation now employs more than 100 people around
the world and new offices have opened in London and Hong Kong.
"It also has hired its first Tuvaluan employee and will take on a
second next month.
"The minister said plans to float the company had been put on hold
on the advice of the corporation's investment bankers because of the
looming recession in the U.S. Nevertheless, Tuvalu is confident of the
DotTV corporation's long-term success and is investing another three
million U.S. dollars by foregoing three quarterly cash payments for the
.tv suffix. He said the quarterly payments would resume in the third
quarter of this year.
(Sean Dorney, Radio Australia)