Section 197, why didn't I think of that? 🙂 View2, you should change your comment to an answer.
View2 is correct. It needs to amortized (similar to depreciation) over 15 years.
Although it sounds like you are buying the ENTIRE existing website (not just the domain name), unless you are buying something physical ('tangible'), you are buying the existing business ('goodwill' and 'going concern') and it is still amortized over 15 years.
In the event you are buying them for less than the $200 (or $500, see my comment above), you can still just deduct the expense.
