Verisign, the company that controls the .com TLD (top-level domain) has announced that they will be increasing the wholesale price to registrars (the companies that sells the domains to consumers) of .com domains from $6.00/year to $6.42/year, a 7% increase.

With their recently renegotiated contract with ICANN, Verisign will be allowed to hike up the price 7% per year pretty much indefinitely. And with roughly 65 million .com domains currently registered, they stand to make about $27 million extra this year.

TechCrunch said it best: "It's good to be a monopoly."

Via TechCrunch