NSR Policy: NN7 Proposal Released: Confirms Expectations (As Does Industry Reaction)
Late yesterday, the FCC publicly released the Notice of Proposed Rulemaking related to reclassifying ISPs as Title II carriers and setting out net neutrality rules. The language largely confirms our long-held view that once she had a Democratic majority, Chair Rosenworcel would bring up for a FCC vote a proposal that does what the FCC under the last Democratic Chair, Tom Wheeler, adopted in 2015. Earlier this week we provided an overview of what we thought would be in the NN7[1] proposal and its market impacts; our New Street colleagues similarly put out a note focused on economics and investment impact. In this follow-up note, we delve into investor relevant details of the Notice, as well as analyzing what the reactions tells us about the politics and the potential market impact of the process.DISH Network is a holding company. Through its subsidiaries, the company operates two business segments: Pay-TV and Wireless. The company provides pay-TV services under: the DISH? brand, which consists of, among other things, Federal Communications Commission licenses authorizing the company to use direct broadcast satellite and Fixed Satellite Service spectrum, the company's owned and leased satellites, and certain other assets utilized in the company's operations; and the Sling? brand, which consists of, among other things, live-linear streaming over-the-top Internet-based domestic, international and Latino video programming services. In addition, the company invests to acquire certain wireless spectrum licenses and related assets.
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