New Verisign deal blocks .com price hikes
NEW YORK (CNNMoney) -- Verisign, the operator of the. com domain name registry for the World Wide Web, will be forbidden from regularly raising registration prices over the next six years. The company renewed its contract with the U.S. Commerce Department on Friday, but under the terms of the new deal, Verisign will not be able to continue its practice of frequently raising prices by as much as 7% -- something Verisign did in four out of the six years covered by its last deal. Currently, registration prices sit at $7. 85 per year. The Commerce Department will need to approve any price hikes on. com registration through 2018, which it only plans to do for "extraordinary expenses related to security or stability threats." Shares of Verisign (VRSN) fell by 15% on the news. Verisign has been operating the. com and.
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Jim Bidzos
Overall Sentiment: 0.195768
Relevance: 0.101051
| Sentiment | Quote |
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| 0.106601 | "This is an important event that provides certainty and sets a clear direction for the company," Jim Bidzos, Verisign's CEO, said ... |
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