"United States cedes control of the internet"

http://www.neowin.net/index.php?act=view&id=34307

The news source is from The Register, an extremely liberal news site known for posting nonsense.

Considering that the US made the internet, graciously allowed other nations to plug-in and then graciously gave other nations their own TLDs, the idea of ceding control to anyone is ludicrous, especially after the Bush administration made it very clear that it was not going to allow the Internet to be another Panama Canal and resolved this matter months ago.

Still does anyone know if this is true? I am asking because stupider things have happened.