It looked like the FCC was going to have cable companies for dinner. The commission was talking about forcing cable systems to open channels to small networks, and perhaps planning to halt future acquisitions by giants like Time Warner Cable (TWC) and Comcast (CMCSA).
But, GOP Congressmen think that the FCC is getting a bit heavy on the regulation side of things. In a quote picked up by The Wall Street Journal one representative voiced his concerns: "It is a concern that he may be moving away from the light-touch regulation to a much greater role for regulation," said Rep. Marsha Blackburn of Tennessee.
The movement in Congress may be good news for the cable companies. They are losing HD customers to satellite TV companies. And, as Verizon (VZ) and AT&T (T) roll out fiber-to-the-home, the telecom companies are beginning to take cable customers who want packages of TV, voice, and broadband. Last month, the FCC said it would open up bidding for TV service in apartment buildings. That used to be a franchise cable could count on as its own.
Most cable stocks trade at 52-week lows. That has been fueled lately by concerns that the FCC would do more damage to the industry with its planned changes to how the companies could operate.
The GOP wants to keep the FCC out of it, Look for a rally in cable shares
Douglas A. McIntyre
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
