Guggenheim Analyst Doubts Stay of FCC Net Neutrality Order
Guggenheim analyst Paul Gallant said he believes the odds are 1 in 3 that a panel of the U.S. Court of Appeals for the D.C. Circuit will stay two parts of the FCC net neutrality order: broadband reclassification under Title…
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II of the Communications Act and an Internet conduct standard. He said his reasons were: "1) Carriers don’t appear to have a strong argument that Title 2 would cause 'irreparable harm' if it takes effect on June 12. The FCC didn’t actually regulate prices or prohibit any services that carriers are currently selling. 2) Title 2/net neutrality was enacted by a Democratic FCC on a 3-2 party line vote, and two of the three judges on the panel are Democrats." Both Democrats were nominated by President Barack Obama, who in November urged the FCC to use its full authority to uphold net neutrality. Gallant said in an email to investors that most of them probably don't even realize a stay is possible, but it would be "clearly positive for cable."