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76775 Posts in 13501 Topics by 1650 Members - Latest Member: insider4ever May 23, 2024, 12:51:55 am
WinMX World :: Forum  |  Discussion  |  WinMx World News  |  Dot Org Sale Derailed

Author Topic: Dot Org Sale Derailed  (Read 1196 times)

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Offline GhostShip

  • Ret. WinMX Special Forces
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Dot Org Sale Derailed
« on: May 02, 2020, 05:48:54 pm »
There are some good guys out there after all. :yes:

The controversial sale of the .org web domain - used by charities and non-profit organisations - has been set back after months of deliberation.
Public Internet Registry (PIR), which runs the .org domain, was sold in November to private equity firm Ethos Capital for a rumoured $1bn (£800m).

Critics warned that the new owner would try to run .org for profit, costing charities millions, One campaign group said the block was a "stunning victory for non-profits".

The Internet Corporation for Assigned Names and Numbers (Icann) is the governing body for top-level domains such as .org and .com, It declined to honour the transfer of PIR from the Internet Society on thursday
n a statement, it said Ethos Capital had "no meaningful plan to protect or serve the .org community".

The takeover would leave a debt of $360m, which PIR would be "forced to service" and "provide returns to its shareholders".

It does seem that a form of economic terrorism has been headed off, I have to admit it surprises me that you can legally manouvere a company / corporation into a position of having artifical big losses that mean price hikes for customers and others (including defrauding the tax man in many cases) when the real path of drained money will end up with some secret bond holders or offshore shell company that licences the trade name out for a million times what its worth, pretty shabby and lazy investing really.

Greed has not triumphed this day.

WinMX World :: Forum  |  Discussion  |  WinMx World News  |  Dot Org Sale Derailed

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