VeriSign Tapped to Manage .net Domain

The Internet Corporation for Assigned Names and Numbers (ICANN) has chosen VeriSign to oversee the .net top level domain, a move largely expected following a third party recommendation. VeriSign retains control of the domain that it has managed since 2000 alongside .com, and has promised to lower .net prices.

VeriSign currently receives $6 annually for each domain, but said it would drop that fee to $4.25; 75 cents goes directly to ICANN. Telcordia, which was tapped by ICANN to review four .net bidders, chose VeriSign in March, sparking claims of favoritism. A revised May report from Telcordia also selected VeriSign as the top candidate, however, leading to final ICANN's selection.