Background:
In 1974, ethnic differences within the British colony of the
Gilbert and Ellice Islands caused the Polynesians of the Ellice
Islands to vote for separation from the Micronesians of the Gilbert
Islands. The following year, the Ellice Islands became the separate
British colony of Tuvalu. Independence was granted in 1978. In 2000,
Tuvalu negotiated a contract leasing its Internet domain name ".tv"
for $50 million in royalties over the next dozen years.