Most expensive internet address country suffix

Tuvalu, a tiny South Pacific island nation made up of nine atolls, is located directly north of Fiji in the South Pacific ocean, halfway between Hawaii and Australia. This developing country with a population of just 10,588 announced in April 2000 that it had sold its rights to the URL suffix ".tv" to Californian company Idealab for the sum of US$50 million (£31.6 million). The Internet Corporation for Assigned Names and Numbers (ICANN) designates each country a domain name like .uk for the United Kingdom, .fr for France and .com for the United States.