The Internet Corporation for Assigned Names and Numbers shortly known as ICANN is a nonprofit organization which coordinates the maintenance and several procedures of databases which are commonly related to namespaces and numerical spaces of the Internet.
In the quarterly investor event Verisign and they are pretty much sure that ICANN are making plans to give Verisign the price increases they wants for .com. In addition to this The U.S. Department of Commerce updated their agreement with Verisign in 2018, which allows it to raise .com prices by up to 7% in four of six years. However, this is only if ICANN agrees to allow the increases.
ICANN says it wants to get out of the price-regulating business, so they are to assume it will defer with the U.S. government on .com pricing and also Verisign won’t be satisfied without the full increases.
Verisign CEO James Bidzos said:
We believe these discussions with ICANN have completed. While it will be inappropriate at this point of time to provide more details, I can say that we were pretty much satisfied with the results so far. Further he added this is an ICANN process and we expect that before long ICANN will be publishing for public comment the documents we have been discussing.
The updated contract will be available for public comment, ICANN is likely to ignore any comments opposed to the price increases.