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Submission + - ICANN's Brand named Internet suffix application deadline looms (bbc.co.uk)

AIFEX writes: From the BBC "Organisations wishing to buy web addresses ending in their brand names have until the end of Thursday to submit applications. For example, drinks giant Pepsi can apply for .pepsi, .gatorade or .tropicana as an alternative to existing suffixes such as .org or .com."

Does anyone else think this is absolutely ridiculous and defeats the logical hierarchy of current URLs?

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