In Who controls the internet I linked to a history of domain name regulation and ICANN control.

ZDNet has a report on the United Nations-sponsored World Summit on the Information Society beginning this week in Tunis at which some countries will argue for multi national control over domain names.

Canadian academic Michael Geist in
Facing The Facts on Internet Governance argues that  the current system requires change. He says that ICANN has consistently angered the Internet community by developing policies with little transparency or public consultation. According to Geist, creating an ICANN alternative need not lead to U.N. control over the Internet nor to greater global censorship.

UPDATE 17 November: Domain name regulation will stay with ICANN.See this CNN story.