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$1 billion deal to sell '.org' domain names has been blocked. - Business Insider

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The $1.1 billion deal to sell control of '.org' domain names to a private equity firm has been blocked, after an outcry from critics including California's attorney general

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.ICANN, the Internet Corp for Assigned Names and Numbers, announced that it had vetoed a controversial $1.1 billion deal passing control of domain names ending in .org to a private investment firm.

It also attracted critics like California's Attorney General Xavier Becerra, who cited a lack of transparency around Ethos Capital as a concern. SAN FRANCISCO -- A body overseeing web addresses said it has vetoed a $1.1 billion deal to sell control of domain names ending in .org to a private investment firm after an outcry from internet pioneers and officials including California's attorney general.

In particular, it cited concerns that there would be a drive to reward Ethos stockholders while repaying $300 million in debt taken on during the transaction. ICANN said it conducted due diligence into the deal after questions about Ethos' ties to former ICANN officials.

 

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