Dot tv is the top level domain name for the islands of Tuvalu.
If you plan to register a .TV domain name on Godaddy.com registrar, you may find this tooltip text on the .TV domain name :
« Note: the island of Tuvalu is sinking. Recommanded alternatives are .COM, .NET & .INFO. Official domain for Tuvalu »
The Tuvalu Island is sinking
That is true, as we can read on thesinkingoftuvalu.com : « Tuvalu is one of the smallest and most remote countries on earth. Located in the Pacific Ocean, [...] the country is in danger of disappearing beneath the waves. »
Now the question is : Will we loose our .TV domain names?
I found no official answer. It is good to know that the domain extention is currently operated by a VeriSign company, negotiated with the Tuvalu government by a contract of 12 years that ends in 2012.
Overall, I think that the Web 2.0 investors will save these domains.
