Google, Verizon shake hands on policy threatening net neutrality
Would create 'two' internets, one public and one that would charge extra for higher-priority services, which could include better-quality movie downloads
Google and Verizon on Monday formally announced a joint agreement on handling internet content that would severely impact net neutrality.
As reported on TheWrap last week, the agreement could lead to movie studios being charged extra if they want to deliver high-quality downloads of films over the web.
Google CEO Eric Schmidt and Verizon CEO Ivan Seidenberg made the announcement in a call with the media. They suggested the plan would ensure freedom of choice for consumers but also let internet service providers attract the investment needed to expand and improve the speed of internet connections.
Hoping to calm fears that there was an actual deal in place between the two major players -- and that it would doom net neutrality -- Schmidt said that the plan is intended to set aside “a very divisive debate.”
“There is no business arrangement," he said. "Not a deal. This is a joint policy announcement,” he said.
The proposal, which the CEOs said would be offered to the Federal Communications Commission and Congress, preserves the openness of the internet, Seidenberg said. “There is no paid prioritization over the [existing] internet,” he said. Read more
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The solid report comes a month after the retailer closed all of its Canadian operations.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.