Verizon CFO: Title II Jeopardizes Investment in Innovation
Verizon Communications chief financial officer Fran Shammo told analysts on a 4Q earnings call Thursday (Jan. 22), and later expounded in a blog post, reclassifying broadband access under Title II would be "an extreme and risky path that will jeopardize our investment and the development of innovation in broadband Internet and related services."
He "reiterated" the "inverse relationship between regulation and investment," according to Verizon, and said again that he had been "misquoted in the press and Congress," referring to an earlier analyst call where he was perceived by many to downplay the effect of Title II on investment by saying that the company planned to continue to invest in its networks.
He was asked again about Title II during the Thursday 4Q earnings "given recent government comments."
For the full story go to Multichannel.com.
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Contributing editor John Eggerton has been an editor and/or writer on media regulation, legislation and policy for over four decades, including covering the FCC, FTC, Congress, the major media trade associations, and the federal courts. In addition to Multichannel News and Broadcasting + Cable, his work has appeared in Radio World, TV Technology, TV Fax, This Week in Consumer Electronics, Variety and the Encyclopedia Britannica.
By Kent Gibbons