ICANN Expands Domain Name Extensions

Today the Internet Corporation for Assigned Names and Numbers (ICANN), a global body that coordinates internet names, voted to allow companies to apply for their own domain name extensions. Instead of choosing from the 22 existing top-level domain names, like dot com, dot org or dot net, websites will be able to apply for alternate URL endings–think dot takeaway or dot WNYC. At $185,000, the application fee is hefty and will likely limit the applicant pool to global business giants hoping to maximize their internet presence. ICANN will begin accepting applications on January 12, 2012. Mariko Oi, business reporter for our partner the BBC, speaks with us from Singapore, where ICANN met this morning.