Cable Company Stocks Down After Obama Calls For Net Neutrality

Cable stocks were down on Monday after Obama spoke out against internet 'fast lanes.' The President called for an explicit ban on deals between broadband internet providers and services like Netflix, Amazon or Youtube. The deals currently prioritize content from paying services in search and provide a potential new revenue stream for cable companies. The White House is demanding that the FCC re classifies Internet access as a utility that would be regulated like electricity or water. The prospect of increased government regulation led to a cable stock sell off. Time Warner Cable, Comcast and Charter Communications all experienced a drop in share price following the news.