Wednesday, 20 October 2010 12:55
In a filing in California court, domain auction mediator Sedo has filed for the completion of the sale of Sex.com to a third party. Sedo had been hired in June after Mike Mann successfully sued and blocked a previous auction scheduled for March of 2010.
The buyer is named as Clover Holdings LLC of Saint Vincent islands in the Caribbean. Estimated sale price is $13 million not including Sedo's fee for the private auction. Several bidders apparently made offers until this final one was accepted and filed on the 18th of October. Original cost to acquire the domain in 2006 is reported as $14 million. It is not known if this number is accurate in terms of cash cost in the original deal.
Not much is known of the buying company and web searches return few results. The signer on the sale documentation going to bankruptcy court is an unknown "E. M. French , Director". You can see the full PDF filing here.
Despite the private sale, court approval is still required due to the bankruptcy action which caused the initial auction in March 2010 to be cancelled. A hearing has been set for Oct. 27 at U.S. Bankruptcy Court in Woodland Hills, California to determine if all debtors approve the sale.
