NTIA Announces Intent to Transition Key Internet Domain Name Functions | NTIA: "NTIA currently contracts with ICANN to carry out the Internet Assigned Numbers Authority (IANA) functions and has a Cooperative Agreement with Verisign under which it performs related root zone management functions. Transitioning NTIA out of its role marks the final phase of the privatization of the DNS as outlined by the U.S. Government in 1997."
Note none of this is scheduled to happen before 2015 so the IANA contract continues until then. 'via Blog this'
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