Quote from: https://www.eff.org/deeplinks/2020/04/victory-icann-rejects-org-sale-private-equity-firm-ethos-capital
In a stunning victory for nonprofits and NGOs around the world working in the public interest, ICANN today roundly rejected Ethos Capital’s plan to transform the .ORG domain registry into a heavily indebted for-profit entity. This is an important victory that recognizes the registry’s long legacy as a mission-based, non-for-profit entity protecting the interests of thousands of organizations and the people they serve.
We’re glad ICANN listened to the many voices in the nonprofit world urging it not to support the sale of Public Interest Registry, which runs .ORG, to private equity firm Ethos Capital. The proposed buyout was an attempt by domain name industry insiders to profit off of thousands of nonprofits and NGOs around the world. Saying the sale would fundamentally change PIR into an “entity bound to serve the interests of its corporate stakeholders” with “no meaningful plan to protect or serve the .ORG community,” ICANN made clear that it saw the proposal for what it was, regardless of Ethos’ claims that nonprofits would continue to have a say in their future. "ICANN entrusted to PIR the responsibility to serve the public interest in its operation of the .ORG registry," they wrote, "and now ICANN is being asked to transfer that trust to a new entity without a public interest mandate."
The sale threatened to bring censorship and increased operating costs to the nonprofit world. As EFF warned, a private equity-owned registry would have a financial incentive to suspend domain names—causing websites to go dark—at the request of powerful corporate interests and governments.
In a blog post about its decision, ICANN also pointed out how the deal risked the registry’s financial stability. They noted that the $1.1 billion proposed sale would change PIR “from a viable not-for-profit entity to a for-profit entity with a US$360 million debt obligation.” The debt was not for the benefit of PIR or the .ORG community, but for the financial interests of Ethos and its investors. And Ethos failed to convince ICANN that it would not drain PIR of its financial resources, putting the stability and security of the .ORG registry at risk.
We’re glad ICANN listened to the many voices in the nonprofit world urging it not to support the sale of Public Interest Registry, which runs .ORG, to private equity firm Ethos Capital. The proposed buyout was an attempt by domain name industry insiders to profit off of thousands of nonprofits and NGOs around the world. Saying the sale would fundamentally change PIR into an “entity bound to serve the interests of its corporate stakeholders” with “no meaningful plan to protect or serve the .ORG community,” ICANN made clear that it saw the proposal for what it was, regardless of Ethos’ claims that nonprofits would continue to have a say in their future. "ICANN entrusted to PIR the responsibility to serve the public interest in its operation of the .ORG registry," they wrote, "and now ICANN is being asked to transfer that trust to a new entity without a public interest mandate."
The sale threatened to bring censorship and increased operating costs to the nonprofit world. As EFF warned, a private equity-owned registry would have a financial incentive to suspend domain names—causing websites to go dark—at the request of powerful corporate interests and governments.
In a blog post about its decision, ICANN also pointed out how the deal risked the registry’s financial stability. They noted that the $1.1 billion proposed sale would change PIR “from a viable not-for-profit entity to a for-profit entity with a US$360 million debt obligation.” The debt was not for the benefit of PIR or the .ORG community, but for the financial interests of Ethos and its investors. And Ethos failed to convince ICANN that it would not drain PIR of its financial resources, putting the stability and security of the .ORG registry at risk.
Looks like Public Internet Registry still doesn't want to manage the .org TLD anymore so they will have to establish some other entity that will do it for them.