Here's a brief summary:
1) DNforum was started by a 16 year old, by the name of Dan Gessler.
2) Dan was going to sell it to the Moderators, until he received a higher offer from Gregr. ($5000 I believe)
3) Being Young, and unexperienced, he sold it to the highest bidder, after coming to an agreement with the moderators.
4) The moderators became upset, and started DomainState.com.
5) A few months later. Gregr started charging members for access, then sold it to the current owner.