ICANN Gets Financial Boost
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The Internet Corp. for Assigned Names and Numbers is fighting a large debt and reportedly has called on a few big name companies to defray some of its costs.
MCI Worldcom lent ICANN $500,000, and the remaining $150,000 came from Cisco. The funds are part of a $2 million target sum that would enable ICANN to pay its bills, the group said.
"These loans are part of an international effort to provide temporary financial support for ICANN until our permanent funding is put in place later this year," said Mike Roberts, ICANN's interim president and CEO. "Discussions with other corporations in the U.S. and elsewhere are currently in progress."
In June, the group considered charging registrars a $1 to help with rising operational costs, but after public and Congressional criticism of the measure, ICANN rescinded the proposition. As an alternative, at its July 26th meeting, ICANN's board of directors agreed to borrow up to $2 million.
Even with the monetary injection, ICANN is reportedly still in the red.
In a related story, House Commerce Committee Chairman Thomas Bliley, who has in the past been one of ICANN's loudest critics, this week sent an letter to the organization questioning its financial status.
The letter, sent to ICANN Interim Chair Esther Dyson, contained a series of questions about ICANN's widely reported financial difficulties. He also questioned ICANN's fundraising activities.