VeriSign has launched a “proposed settlement” with ICANN to amend their unique .com registry settlement to permit them to lift the value of dotcom registrations as much as 28% each six years.
These new phrases “at the moment are open to public remark” — and the Register factors out that ICANN’s resolution appears to come back with a corresponding $20 million for ICANN:
Operator of the dot-com registry, Verisign, has determined to pay DNS overseer ICANN $four million a 12 months for the following 5 years with the intention to “educate the broader ICANN neighborhood about safety threats.”
Regardless that the beneficiant $20 million donation has nothing to do with ICANN signing off on an extension of the dot-com contract till 2024, the “binding letter of intent” [PDF] stating the precise quantity of funding will probably be appended to the registry settlement that Verisign has with ICANN to run the dot-com registry.
That extension lifts a value freeze put in place a number of years in the past and can enable Verisign to extend costs by seven per cent a 12 months [in each of the last four years of each six year contract renewal]. It is a rise that we calculated was value $993 million and which the inventory market appeared to agree with when it raised the corporate’s share value by 16 per cent when the settlement was first flagged in November 2018…
ICANN explains the $20 million this time will probably be used to “help ICANN’s initiatives to protect and improve the safety, stability and resiliency of the DNS, together with root server system governance, mitigation of DNS safety threats, promotion and/or facilitation of DNSSEC deployment, the mitigation of identify collisions, and analysis into the operation of the DNS.”
Which is all totally above board and in no way shady.
Learn extra of this story at Slashdot.