VeriSign wins .com renewal, but can't hike prices

RESTON, Va. (AP) ? VeriSign says it has won a six-year contract to run the key directories that keep track of ".com" domain names, but the company won't be allowed to raise prices on the registration of such names without government approval.

Under the previous contract, VeriSign was guaranteed four price increases of up to 7 percent each. In a statement, VeriSign says the new contract locks in the current annual price of $7.85 per name, barring special circumstances.

Anyone who wants a ".com" name can obtain one through a third party, which then pays VeriSign $7.85 of what it collects. The new contract lets VeriSign continue collecting those fees, which add up to millions of dollars, but won't guarantee more.

VeriSign's stock fell $5.87, or 15 percent, to $33.47 in morning trading Friday.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2012-11-30-VeriSign-Dot-Com%20Renewal/id-192eba3b649b415c8d71ada0f4e3e579

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