News blog
Hecta Media Inc
- BY: Andrew Hore |
- POSTED: 13/03/2008 |
Cash shell Hecta Media Inc has bought some portfolios of domain names and blog, TutorialBlog.org.
Hecta, which is run by American technology entrepreneur Frederick Krueger, paid $1.45m for around 60,000 domain names. They are mainly German or other European domain names. These names get search traffic and make money from generating click through advertising revenues.
Hecta will retain the domains that generate more income than their costs and add content to those sites. They currently generate annual revenues of $750,000 and will generate profits for Hecta.
Hecta has the option to buy two more domain name portfolios for $1.9m.
Three other portfolios and TutorialBlog.org are being acquired for $445,000, including $30,000 in shares at a price of just over 8c (4p). They are trading at a price of 3.75p - a bid offer spread of 3p/4.5p.
No figures are available for these assets but the company believes they will make a positive contribution.
Hecta is registered in the British Virgin Islands and floated last November at 4p a share. Its stated plan was to “make broadly distributed investments in niche content web sites and vertically targeted, branded domains”.
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