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VeriSign to run .net |
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VeriSign Inc will keep control of Internet addresses that end in .net for six more years, Internet Corporation for Assigned Names and Numbers, or ICANN said on Thursday. VeriSign's current agreement for .net was scheduled to expire on June 30. Under VeriSign's new contract, which takes effect in July, the company will charge $4.25 annually for a new .net registry from $6 previously reports Reuters.
VeriSign beat four other applicants for the registry, said ICANN, the group that oversees Internet address allocation
The .net registry accounts for 7 percent of all domain name registration. The .com registry accounts for 47 percent of all domain name registrations, according to the company.
VeriSign retains the rights to the .com registry until 2007 when it will have to renew that contract, which provides the company with about $200 million annually in revenue.
VeriSign, through a spokesman, said it was pleased with ICANN's decision and would continue to make investments in operating Internet domains.
Analysts have generally believed that losing the .net registry would have been more of a "headline" risk than a big revenue or profit problem to VeriSign.
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