The FCC ruling in favor of the so-called net neutrality rules was a big a win for giant streaming network Netflix, Inc. (NASDAQ:NFLX) according to BTIG Media & Tech analyst, Richard Greenfield. During an interview on CNBC, Greenfield said FCC decision on the matter was solely based on what the public wanted and not what the Internet Service Providers were pushing for. The decision is also expected to have a huge bearing on the proposed Comcast Corporation (NASDAQ:CMCSA) – Time Warner Cable Inc (NYSE:TWC) merger, according to the analyst.
The FCC ruling essentially reclassifies broadband Internet access under Title II of the Communications Act meaning internet providers will be barred from blocking or throttling legal content. The decision also bars the prioritization of certain content or creation of the so called internet ‘fast lanes. ’
“I think today was a big win for Netflix, Inc. (NASDAQ:NFLX) I mean there was no doubt that there was a real popular uprising. If you listen to the actual comment that the FCC commissioners made today including the chairman. It was all focused on what the people said no matter what this rational robots auto dialing.[…] The public didn’t want us to have no rules of the internet, they wanted there to be a far greater regulation of the Internet,” said Mr. Greenfield.
It was always going to be a hard decision for the commission to make a decision that balances the varying interests of influential content streamers like Netflix, Inc. (NASDAQ:NFLX) and that of large internet service providers. The commission had already received passionate comments from both sides of the divide having already reviewed millions of comments mostly from the public.
The groups that were pushing for the net neutrality rules are the same ones that were pushing to block a potential merger between Time Warner Cable Inc (NYSE:TWC) and Comcast Corporation (NASDAQ:CMCSA) according to the analyst. Greenfield does not expect the merger to go through as Netflix, Inc. (NASDAQ:NFLX) has also aired its reservation about the impact of such a merger.
“I think this deal is either going to get blocked or the conditions are going to be just unappealing. Remember Comcast Corporation (NASDAQ:CMCSA) is doing great, Comcast is just doing fine without Time Warner Cable Inc (NYSE:TWC). This was always a deal that was a once in a lifetime opportunity. But Comcast isn’t going to put them in a position where they are agreeing to things that the rest of the industry is not going to deal with,” said Mr. Greenfield.
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