Scalper1 News
After publicly supporting net neutrality, Netflix (NFLX) on Sunday revealed that it had caved to U.S. cable giant Comcast (CMCSA) and signed a multiyear agreement that gives it a “more direct connection” to Comcast’s network. Financial terms weren’t disclosed. Described as a “mutually beneficial interconnection agreement,” the deal will provide Netflix (NFLX) customers using Comcast (CMCSA) broadband Internet service “a high-quality Netflix video experience for years to come,” the companies said in a joint press release . After Netflix reported its fourth-quarter results on Jan. 22, Netflix executives gave statements backing net neutrality rights for Internet companies vs. broadband Internet service providers. In a letter to shareholders, Netflix CEO Reed Hastings and CFO David Wells said Netflix customers would rise up if cable companies tried to throttle the bandwidth used by over-the-top Internet video services like Netflix. They made the comments in response to a U.S. appeals court victory by Verizon Communications (VZ) in January that struck down the Federal Communications Commission’s net neutrality policy. Scalper1 News
Scalper1 News