17 Mar '14, 1pm

Verisign tells markets NTIA news doesn’t affect its .com contract while stock drops

Verisign points out that NTIA announcement has nothing to do with .com, but at least one analyst has downgraded the stock due to uncertainty. Verisign issued a press release this morning reminding investors that Friday’s big news about the U.S. government transitioning internet responsibilities does not affect its lucrative contract to run the .com domain name registry. Verisign shares were down about 6% in the first few minutes of trading today. Last Friday National Telecommunications and Information Administration (NTIA) announced its intent to relinquish control of the functions under the IANA contract. This includes managing the root zone, a role in which Verisign plays a part. But Verisign doesn’t get paid for playing its role in root zone management. While it was able to use its role with the root zone to apply a bit of pressure in the new TLD process, that didn’t am...

Full article: http://domainnamewire.com/2014/03/17/verisign-tells-marke...

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