This is a question for one of us with a longer history with ICANN than I have.

I have noticed that the language used to discuss the history leading up to the transition of IANA oversight the wording does not
refer to ICANN as a not-for-profit multistakeholder organization but instead uses variations on the term "private and international".
Most recently this appears in Wolfgang's piece in circleid.com where he writes:

      "...the privatization and internationalization of the management of Internet core resources."

http://www.circleid.com/posts/20160921_breaking_nonsense_ted_cruz_iana_transition_and_irony_of_life/

I assume there is some history to using the words "private" and "international" rather than "not-for-profit" and "multistakeholder".
Can someone shed some light on this?