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Google And Verizon Agree On Internet Proposal
August 9, 2010, 6:38 PMGoogle (NasdaqGS: GOOG) and Verizon (NYSE: VZ) on Monday introduced a joint proposal for an open Internet standard for how internet service should be regulated.
The proposal says Internet providers should treat all providers of Internet content the same. It would give the Federal Communications Commission authority to regulate broadband Internet providers to ensure consumers have access to all content and applications on the Internet.
Wireline Internet providers like Verizon, AT&T and Comcast would not be allowed to favor content over others or accept payment to boost certain Internet traffic.
If a provider is guilty of violating these laws, the FCC would be allowed to penalize up to 2 million.
Since the wireless market is more competitive than wireline services, Google and Verizon both agree that the proposal should not apply. All though, The proposal does enforce transparency rules for both wireline and wireless services. It requires both mobile and wired providers to give consumers “clear, understandable information about the services they offer and their capabilities.”
Internet providers disagree and are strongly against Net neutrality, they believe the regulation would raise costs and lessen their ability to spend money to upgrade their networks.
Verizon’s CEO Ivan Seidenberg hinted on Monday that Google and Verizon have been unhappy with the way the FCC’s meetings have gone so far.
Both Google and Verizon were quick to deny as business agreements between the two companies and stated it was only a policy proposal.
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Tags: FCC, Federal trade commission, goog, google, VerizonToday's Market
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