The FCC votes 3-2 along party lines to move ahead with regulating broadband, setting the stage...

|By:, SA News Editor

The FCC votes 3-2 along party lines to move ahead with regulating broadband, setting the stage for an eventual legal showdown. Supporters include internet-dependent firms such as Google (GOOG) and Microsoft (MSFT), while phone and cable companies object, saying tighter regulations will raise costs. It's a "terrible idea" that would have "negative consequences" for decades, Verizon (VZ) CEO Tom Tauke says.