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Controversial Sale of .org Web Domain Blocked

posted by Fnord666 on Saturday May 02 2020, @07:02AM   Printer-friendly
from the sudden-outbreak-of-common-sense dept.

upstart writes in with an IRC submission for carny:

Controversial sale of .org web domain blocked:

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.

[...] 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 to Ethos Capital on Thursday.

It said the block was "reasonable, and the right thing to do".

In 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".

Also at:
ICANN blocks controversial sale of .org domain to a private equity firm
ICANN blocks proposal to let .org be sold to a for-profit group
Hurray, the .org TLD won't be sold off to a private company

Original Submission

 
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  • (Score: 5, Insightful) by Anonymous Coward on Saturday May 02 2020, @11:05AM (2 children)

    by Anonymous Coward on Saturday May 02 2020, @11:05AM (#989410)

    Dear Shareholders,

    We got royally screwed by the California A.G., but we have learned our lesson from this. We have a three phase plan for improving our performance.

    1. Use $2 million of your money to get that dope un-elected
    2. Change our name to "Friendly Capital Corp."
    3. Cut-and-paste the original agreement once the dust has settled

    We are sorry that the payday will take a few extra months, but don't worry, we are still going to fuck those charities if it's the last thing we do.

    - Ethos Management

    Starting Score:    0  points
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  • (Score: 0) by Anonymous Coward on Saturday May 02 2020, @01:19PM (1 child)

    by Anonymous Coward on Saturday May 02 2020, @01:19PM (#989446)

    Friendly Capital ain't never done wrong by me.

    • (Score: 0) by Anonymous Coward on Saturday May 02 2020, @01:56PM

      by Anonymous Coward on Saturday May 02 2020, @01:56PM (#989461)

      I take it that Friendly Capital didn't sell your mortgage to some sleazy mortgage broker?