financetom
Business
financetom
/
Business
/
Telecoms seek to block US reinstatement of net neutrality rules
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Telecoms seek to block US reinstatement of net neutrality rules
Jun 5, 2024 2:32 PM

WASHINGTON, June 5 (Reuters) -

Telecom industry groups are seeking to block the Biden

administration's reinstatement of landmark net neutrality rules

set to take effect on July 22.

The Federal Communications Commission (FCC) voted in April

along party lines to reassume regulatory oversight of broadband

internet and reinstate open internet rules adopted in 2015 that

were rescinded under former President Donald Trump.

The rules will bar internet service providers from

blocking, slowing down traffic to certain websites, or engaging

in paid prioritization of lawful content, as well as give the

FCC new tools to crack down on Chinese telecom companies and the

ability to monitor internet service outages.

Industry groups representing AT&T ( T ), Comcast ( CMCSA ),

Verizon and others in recent days have filed legal

challenges to the order in seven U.S. circuit courts.

The groups include USTelecom, NCTA, CTIA and ACA Connects,

who asked the FCC to halt the order from taking effect so they

can seek judicial review or if needed a court-issued order

temporarily blocking the new rules.

Reinstating net neutrality has been a priority for President

Joe Biden, who signed a July 2021 executive order encouraging

the FCC to reinstate the rules adopted in 2015 under Democratic

President Barack Obama.

The industry groups said the FCC "has once again claimed

all-encompassing authority to regulate how Americans access the

internet -- this time, adopting even more invasive rules than it

did in 2015."

FCC Chair Jessica Rosenworcel said the commission will not

pursue rate regulation and "not undermine incentives to invest

in networks."

Democrats were stymied for nearly three years because they

did not take majority control of the five-member FCC until

October.

Under Trump, the FCC had argued net neutrality rules were

unnecessary, blocked innovation and resulted in a decline in

network investment by internet service providers, a contention

disputed by Democrats.

Despite the 2017 decision to withdraw the requirement at the

federal level, a dozen states now have net neutrality laws or

regulations in place. Industry groups abandoned legal challenges

to those state requirements in May 2022.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
EXCLUSIVE: Banzai To Snap Act-On Software For $53.2 Million, Expanding AI-Powered Marketing Tools for Clients Like BestBuy and Hitachi
EXCLUSIVE: Banzai To Snap Act-On Software For $53.2 Million, Expanding AI-Powered Marketing Tools for Clients Like BestBuy and Hitachi
Jan 23, 2025
On Thursday, Banzai International, Inc ( BNZI ) announced that it has signed a definitive agreement to acquire Act-On Software Inc, an enterprise marketing automation platform (MAP) provider. The aggregate merger consideration of $53.2 million will consist of common stock and pre-funded warrants exercisable for common stock, valued at $33.2 million, and a cash consideration of $20.0 million. Act-On is...
HEDGE FLOW-Hedge funds buy luxury, short drink and driving in Europe, says Goldman Sachs
HEDGE FLOW-Hedge funds buy luxury, short drink and driving in Europe, says Goldman Sachs
Jan 23, 2025
LONDON, Jan 23 (Reuters) - Hedge funds have turned optimistic about European companies that sell things people want but don't necessarily need, especially luxury goods, according to a Goldman Sachs ( GS ) note on Wednesday seen by Reuters on Thursday. Consumer discretionary stocks in Europe like household appliances, luxury items and leisure have sparked renewed buying interest in hedge...
EXCLUSIVE: La Rosa Doubles Revenue to $65 Million in 2024, Plans Major Expansion and $19 Million Brokerage Acquisition
EXCLUSIVE: La Rosa Doubles Revenue to $65 Million in 2024, Plans Major Expansion and $19 Million Brokerage Acquisition
Jan 23, 2025
On Thursday, La Rosa Holdings Corp announced a preliminary revenue estimate of $65 million for fiscal year 2024, up 104% from the previous year. CEO Joe La Rosa noted strategic acquisitions of real estate brokerage franchisees and a significant increase in agent count drove the performance. Rosa expects that 2025 will be another strong year backed by its continued expansion...
NovaGold Says Ended Fiscal 2024 Well Funded as Donlin Gold Project in Alaska Advances
NovaGold Says Ended Fiscal 2024 Well Funded as Donlin Gold Project in Alaska Advances
Jan 23, 2025
08:28 AM EST, 01/23/2025 (MT Newswires) -- NovaGold Resources ( NG ) on Thursday said it remains well financed as it advances the Donlin gold project in Alaska in a joint venture with Barrick Gold ( GOLD ) The company said it ended the 2024 fiscal year with US$101.22 million of cash on hand on Nov.30, down from US$125.75 million...
Copyright 2023-2026 - www.financetom.com All Rights Reserved