Netflix logo (Photo : Reuters)
Netflix has been one of the primary advocates of Internet regulation however; its CFO downplays that assistance in the wake of the Federal Communications Commission (FCC)'s decision to regulate the Internet as a public utility. David Wells, Chief Financial Officer of Netflix, explained at the annual Morgan Stanley Technology, Media and Telecom Conference last week that Netflix is one of the few firms that advocate the extreme form of Internet regulation, had lobbyist's regret only a week after the FCC voted to replace the open Internet with Obamanet, according to the Wall Street Journal.
"Were we pleased it pushed to Title II?" Wells asked the investors. "Probably not. We were hoping there might be a nonregulated solution," he added.
In February, the FCC has approved the Open internet order which categorizes the broadband internets as telecoms services under Title II of the Communications Act that will prevent the Internet Service Providers (ISP) by prioritizing particular type of contents or blocking any legal content by charging fees to get faster access, The Daily Caller reported.
Tom Wheeler, the FCC Chairman gave his word that the commission will "forbear" from the most problematic policies that are included in the order. On the other hand, critics believe that no matter how the current Chairman makes his promise, the future ones will always reverse it back.
The FCC currently did President Obama's bidding by voting to implement that micromanagement on the Internet. The FCC will also be deciding the rates and other terms online are "just and reasonable."
