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NEW YORK (AP) — Shares in cable companies have been falling sharply today, after President Barack Obama issued a statement in support of those who advocate "Net Neutrality."
Obama is aligning himself with Internet activists who warn against the creation of so-called Internet "fast lanes" -- under which Internet providers would reach deals with online services like Netflix, Amazon and YouTube to move their content faster. It would be a potential new source of revenue for cable companies.
If the Federal Communications Commission approves Obama's recommendations, the Internet would be regulated like other utilities such as electricity, water and telephone service.
The potential ban on content deals, and the possibility of heavier government regulation, is sending investors scurrying out of cable stocks. Time Warner, Comcast, Cablevision and Charter Communications have all seen shares drop between two and four percent.
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160-c-20-(Jerry Bodlander, AP correspondent)-"to move faster"-AP correspondent Jerry Bodlander reports the president says Internet service providers can't be allowed to pick winners and losers in the online marketplace for services and ideas. (10 Nov 2014)
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159-v-29-(Jerry Bodlander, AP correspondent)--President Obama says he opposes any deals to speed some Internet content. AP correspondent Jerry Bodlander reports (10 Nov 2014)
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APPHOTO WX102: FILE - In this Oct. 10, 2011 file photo, the exterior of Netflix headquarters is seen in Los Gatos, Calif. Internet providers shouldn't be allowed cut deals with online services like Netflix or YouTube to move their content faster, and should be regulated more like phone companies, President Barack Obama said Monday in an announcement that was swiftly rejected by industry. (AP Photo/Paul Sakuma, File) (10 Oct 2011)
<<APPHOTO WX102 (10/10/11)££
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