Today, iCANN’s board of directors rejected the change control and entity conversion requests submitted by PIR,media reported. After extensive due diligence, the ICANN Board of Directors found that it was reasonable and correct to disagree with the transfer of PIR from ISOC to Ethos Capital.
On November 13, 2019, PIR announced that its parent company, ISOC, had reached an agreement with Ethos Capital to acquire PIR and all of its assets from ISOC. Under the agreement, PIR would also be transformed from a Pennsylvania nonprofit into a for-profit Pennsylvania LLC. ISOC created and agreed to the details of the transaction under review.
On 14 November, PIR formally submitted to ICANN a “Notice of Indirect Changes of Control and Entity Conversions” to complete the proposed transaction between Ethos Capital and ISOC in advance. Since 2003, PIR has operated .ORG Common Top-level Domain (gTLD) as a non-profit organization, along with six other generic top-level domains. Under the gTLD registration agreement, ICANN must approve or disagree with the proposed change of control, with a deadline of May 4, 2020.
However, ICANN chose to reject PIR’s request after thorough investigation and discussion. The agency said the board supported the decision and that it believed it was the right one, “and we call on all involved to find a healthy way forward with a keen eye when we see the disappointment of some people.” The ORG community provides the best possible support. “