[CPWG] [registration-issues-wg] Fwd: ISOC sells PIR

Thu Nov 14 10:13:26 UTC 2019

Thx for info @Justine.

Javier Rúa-Jovet

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> On Nov 14, 2019, at 5:34 AM, Justine Chew <justine.chew at gmail.com> wrote:
> 
> 
> Seun,
> 
> You are mixing up the roles of the parties. The new owner ie Ethos Capital has no role to play in and does not fund the endowment for ISOC projects/activities. Ethos Capital is buying PIR (the operating entity which is an asset of ISOC) from ISOC - i.e. an outright sale and purchase of an asset - for X sum. It is ISOC which will arrange to fund the endowment vide the X sum (or more accurately, the returns on the investment of X sum) it receives from Ethos Capital.
> 
> After the transaction is completed, Ethos Capital will own and operate PIR outright. So no revenue sharing is involved.
> 
> The announcement indicated that Ethos Capital intends for "PIR to continue to meet the highest standards of public transparency, accountability, and social performance in line with its longstanding purpose-driven mission" and to maintain "all of PIR’s domain operations and educational initiatives" as is - these are PIR's domain operations and educational initiatives not ISOC projects/activities.
> 
> Justine 
> -----
> 
> 
>> On Thu, 14 Nov 2019 at 16:58, Seun Ojedeji <seun.ojedeji at gmail.com> wrote:
>> Sent from my mobile
>> Kindly excuse brevity and typos
>> 
>>> On Thu, 14 Nov 2019, 03:33 Justine Chew, <justine.chew at gmail.com> wrote:
>>> It is an outright sale of an asset, the proceeds of which go toward "an endowment fund" for ISOC projects/activities.
>> 
>>> No revenue sharing is involved.
>> 
>> 
>> SO: This actually is quite fuzzy, and I am not sure how this will be practically feasible. I am not sure what obligation will compel the new owner to adequately fund the endowment/ISOC since there is no revenue sharing agreements involved.
>> 
>> Regards
>>> 
>>> The announcement indicated that all projects and operations will continue as is under new ownership. With its policy on public/community benefit presumably driven and overseen by Ethos Capital's Stewardship Council - I wonder who they will put on this Council.
>>> 
>>> PIR under Ethos Capital will lose its non-for-profit status, so there might be financial implication not to ISOC but possibly PIR's existing .org customers/registrants.
>>> 
>>> We shall see.
>>> 
>>> Justine 
>>> -----
>>> 
>>> 
>>>> On Thu, 14 Nov 2019 at 10:21, Maureen Hilyard <maureen.hilyard at gmail.com> wrote:
>>>> As Eduardo said there are lots of unknowns at present. Who knows?
>>>> 
>>>>> On Wed, 13 Nov 2019, 3:02 PM Alan Greenberg, <alan.greenberg at mcgill.ca> wrote:
>>>>> Why will it have major implications on ISOC Chapters?
>>>>> 
>>>>> Alan
>>>>> 
>>>>> At 13/11/2019 02:52 PM, Maureen Hilyard wrote:
>>>>>> I know for sure that this was not even hinted at during the last PIR Advisory Council meeting.. but it will have major implications for the ISOC chapters. What are they/ISOC thinking?
>>>>>> 
>>>>>> Maureen 
>>>>>> 
>>>>>> On Wed, Nov 13, 2019 at 7:59 AM Marita Moll <mmoll at ca.inter.net> wrote:
>>>>>> 
>>>>>> Had we known this was lurking in the background -- which it most certainly was at the time -- it might have been a different discussion. How much did ISOC know and when did they know it -- a question ISOC chapters might want to ask.
>>>>>> 
>>>>>> Marita
>>>>>> -------- Forwarded Message -------- 
>>>>>> Subject: ISOC sells PIR 
>>>>>> Date: Wed, 13 Nov 2019 17:38:29 +0000 
>>>>>> From: Stephanie Perrin <stephanie.perrin at MAIL.UTORONTO.CA> 
>>>>>> Reply-To: Stephanie Perrin <stephanie.perrin at MAIL.UTORONTO.CA> 
>>>>>> To: NCSG-DISCUSS at LISTSERV.SYR.EDU 
>>>>>> 
>>>>>> 
>>>>>>  I must say, this casts the decision to drop price caps for .org in a slightly different light.  I will keep you posted as I learn more.
>>>>>> 
>>>>>> 
>>>>>> https://www.businesswire.com/news/home/20191113005661/en/Ethos-Capital-Acquire-Public-Interest-Registry-Internet 
>>>>>> 
>>>>>> 
>>>>>> Stephanie Perrin
>>>>>> 
>>>>>> NCSG Chair
>>>>>> 
>>>>>>   
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