27 votes

ICANN board withholds consent for a change of control of the Public Interest Registry (PIR) | The ICANN board withholds consent to transfer .org to Ethos Capital

Posted by Flashynuff
Tags: internet, dns, icann, ethos capital, org, private equity, public interest registry
https://www.icann.org/news/blog/icann-board-withholds-consent-for-a-change-of-control-of-the-public-interest-registry-pir

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Published
Apr 30 2020
Word count
893 words

3 comments

  1. [2]
    Flashynuff
    Link
    context: PIR is the current organization that owns the .org top level domain. Recently, PIR's parent org decided to sell PIR (and .org) to a private equity fund, Ethos Capital. The ICANN board has...

    context: PIR is the current organization that owns the .org top level domain. Recently, PIR's parent org decided to sell PIR (and .org) to a private equity fund, Ethos Capital. The ICANN board has essentially shot that down.

    The entire Board stands by this decision. After thorough due diligence and robust discussion, we concluded that this is the right decision to take. While recognizing the disappointment for some, we call upon all involved to find a healthy way forward, with a keen eye to provide the best possible support to the .ORG community.

    12 votes
    1. UniquelyGeneric
      Link Parent
      What a refreshing bit of good news to see during these trying times. When I first heard of the news that .org, the TLD most frequently used by non-profits and charities, was going to be managed by...

      What a refreshing bit of good news to see during these trying times. When I first heard of the news that .org, the TLD most frequently used by non-profits and charities, was going to be managed by a private equity fund, I was disgusted. Is nothing sacred anymore? However, seeing ICANN so clearly call out the corporate greed with this cancellation has restored some faith back into humanity:

      The US$360 million debt instrument forces PIR to service that debt and provide returns to its shareholders, which raises further question about how the .ORG registrants will be protected or will benefit from this conversion. This is a fundamental change in financial position from a not-for-profit entity.

      Given how much of the Internet has been ruined by capitalist tendencies, it's nice to see some of the early ethos of the web still remaining.

      11 votes
  2. just_a_salmon
    Link
    I’m glad the CA AG knocked some sense into them. I’m still worried, though, because it was a weird deal to begin with, and I wonder what on earth motivated it.

    I’m glad the CA AG knocked some sense into them. I’m still worried, though, because it was a weird deal to begin with, and I wonder what on earth motivated it.

    2 votes