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 a 12-year period.
Tuvalu Introduction 2011
https://theodora.com/wfb2011/tuvalu/tuvalu_introduction.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES
