Washington Post: In 2008, the non-profit Internet Corporation for Assigned Names and Numbers (ICANN) voted to expand dramatically the number of domains possible for Internet sites. (Well-known domains include .com and .net.) Since then, they've been deciding how to decide who could run the new domains. Now they're close to completing talks, and this week the group will hold the first ".nxt" conference which will explain the application process.
Already, groups are lining up to operate domains like .sport or .gay. It will cost $185,000 to apply for the privilege, on top of $25,000 in annual fees to be paid to ICANN.