See that big spike up there in that chart? That's Comcast and Time Warner shares after FCC Chairman Tom Wheeler
announced he would propose strong net neutrality rules. Big telecom has been arguing that the very strong rules Wheeler is proposing would be a financial disaster for them, while net neutrality advocates have argued that Wheeler would do exactly what he has proposed—craft a proposal that spares telecom from rules that aren't necessary or would be burdensome. The
result:
Comcast rose as much as 4.6 percent in New York trading, the biggest intraday gain since November 2013. Time Warner Cable jumped as much as 5.2 percent, the most since its proposed $45 billion sale to Comcast was announced almost a year ago. Shares of other cable companies that offer broadband service also gained. Charter Communications Inc. climbed as much as 6.9 percent, while Cablevision Systems Corp. added as much as 3.3 percent. […]
AT&T Inc. rose as much as 1.2 percent, while Verizon Communications Inc. added as much as 1 percent.
However, "Time Warner Cable and Comcast declined to comment" on the great trading day they had yesterday. That's probably because they intend to fight the rules tooth and nail, anyway, even if the new rules don't pose real harm to their business practices. What the rules do pose harm to is the telecoms' future ability to wring every bit of profit out of their pipes by charging high prices for access to them.
They, like Verizon, aren't going to give up on that dream easily or their fight against net neutrality. They've already begun a massive lobbying campaign on Congress, and it's only going to get worse. Which keeps our job just the same. We've won with the FCC, now we have to win with Congress.
Please, help us protect all that we’ve built with this amazing campaign. Call your members of Congress today urging them to "Let the FCC do its job" to create net neutrality rules and protect an open internet.
Can't call? Sign and send a petition to your member of Congress: Don't kill net neutrality.