Live Current gets out of Cricket game

Vancouver’s Live Current Media announced last week that it has completed the sale and assignment of the domain name and the Indian Premier League contract for a total consideration of approximately $1.75 Million. The transaction eliminates all of Live Current’s liabilities, past and future, associated with the company’s cricket operations. In addition, the unrelated third party purchaser, Global Cricket Ventures Mauritius, agreed to hire Mark Melville, Live Current’s President, and to cover severance costs related to the termination of certain Live Current employees associated with the cricket operations.

Medianama’s Nikhil Pahwa summarized why Live Current struggle to monetize its digital cricket business and some of the reasons are likely valid.

For one, Live Current inked the deal with the BCCL just days before the launch of the inaugural IPL season giving them little time to launch the portal and strike deals with advertisers. This timing likely hurt their first year of operations greatly.

Tragedy also struck, with the Champions League T20 being postponed for a year due to the terror attacks in Mumbai, and then President & COO Jonathan Ehrlich barely escaping with his life from the Taj in Mumbai. Ehrlich has since left the company and joined Facebook in Silicon Valley.

In the same press release, Live Current reported that they have entered agreements to sell two additional “non-core” domain names for a total of $1.6 Million. Domain Name Wire is reporting that was one of the domains sold for an impressive $1.1 Million.