'.Com' domain price hike gets ICANN approval

VeriSign, which operates the servers that constitute the Internet's core address book for ".com" Web sites, has secured the approval to increase prices for the domain name, an Associated Press report said.


The report said the main oversight agency of the Internet Corporation for Assigned Names and Numbers (ICANN) had approved a deal under which VeriSign must meet some conditions in order to raise fees for the domain name.


The report said the company sold ".com" addresses for $6 each to registrars who then sold them to the public.


The report said the deal limited VeriSign's annual price increases to 7% in four of the next six years.


In two of the years, VeriSign could raise fees by the same percentage, only in response to a security threat or to comply with an ICANN mandate, the report added.