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Stop the Secrecy

BGR: Verizon's shareholders have had it with their anti-Net Neutrality fight

Fri, 01/16/2015 - 16:01 -- Eva Prkachin

Verizon's Internet slow lane gamble is starting to cost them.

Article by Brad Reed for BGR

Given how just about any net neutrality proposals have the potential to inhibitVerizon’s bottom line, you’d think that all the company’s shareholders would be 100% behind its efforts to fight them. However, you’d be wrong — Ars Technica reports that the Nathan Cummings Foundation and Trillium Asset Management LLC, both Verizon shareholders, are not pleased with how Verizon has been responding to the net neutrality controversy.

Apparently, both investment entities see Verizon’s hardline stance against net neutrality as damaging to its long-term reputation, especially since most Internet users seem to like the idea that carriers shouldn’t be allowed to charge tech companies more money to ensure their traffic gets delivered more quickly than their competitors.

The investors also note that Verizon has made numerous contradictory statements about its position on net neutrality that make the company look shamelessly opportunistic.

- Read more at BGR