23 Apr '15, 3am

JointVentureNEWS ICANN’s new gTLD program provides for last resort auctions to settle conten... #gTLDJointVenture

$59 Million and Counting: ICANN Board Downgrades Community Say on Use of Last Resort Auction Proceeds by Philip Corwin, Internet Commerce Association Tweet ICANN’s new gTLD program provides for last resort auctions to settle contention sets where the competing applicants are unable to reach agreement by negotiation or private auction, with the proceeds going to a segregated ICANN account. With the recent $25 million bid of Google to secure control of the .App registry the total proceeds of those ICANN auctions has swelled to $58.8 million. The final sum by the end of the first round could go higher, perhaps to more than $100 million. That’s serious money. The subject of how these funds should be used has been raised in Public Forums at several ICANN meetings, and the Board had responded that the auction proceeds would be held separately from general revenues. It also said ...

Full article: http://www.domainnews.com/59-million-counting-icann-board...

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