The TLS registry, already owner of a certain number of extensions, has announced the acquistion of .OBSERVER for an undisclosed sum. ICANN had already allocated this extension to British press group "The Guardian" for its Sunday newspaper "The Observer".
However, as this group had been having financial difficulties, they had decided to sell .OBSERVER for a sum estimated to be around one million US dollars.
This is the first time that a .BRAND (brand top level domain) has become a .GENERIC (generic top level domain). The contract between the .OBSERVER registry and ICANN will need to be amended to take into account the demands of "generic" extensions.
The director of the TLS registry has announced that the new generic extension will be inexpensive and will compete with .FEEDBACK. We will follow up on this once the extension has been launched (Source: Domain Incite).