From Ars Technica:

ICANN oversees the worldwide domain name system that turns "arstechnica.com" into an IP address, and at a major ICANN meeting today in Europe, the organization made two important decisions. If you read the Interwebs, you've no doubt heard that a new .XXX top-level domain was approved for all things pornographic. Porn! The Internet is for porn! Raaaaaaagh!