Yes, this is true! Media Temple is providing domains just for $4 for the first year. The charge from next year will be $12 per year.
The offer is valid only on .com, .net, .org, .info, .biz, .me, .name and .co domains only. Also the offer is valid for new registrations only. The offer is valid till Labor Day (3rd September 2012). Also the they are not charging anything for Domain Privacy. It is included absolutely free of cost. I think this is the best ever offer for those who want to register a new domain for their business or website.