UPDATES: This is a surprise that will thrill net neutrality supporters — but is contributing to a sharp drop this morning in the stock prices for cable broadband providers including Comcast, Time Warner Cable, and Charter. President Obama said, in a statement, that the FCC should “reclassify consumer broadband service under Title II of the Telecommunications Act” — giving the agency broad authority to regulate the Internet as a phone-like communications service and a clear path to establish strong net neutrality rules. But he also asked regulators to promise not to dictate rates or rule on “other provisions less relevant to broadband services.”
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