VZ - AT&T Comcast Verizon Challenge: Subsidy Slash Threatens Internet for 23M Households | Benzinga
AT&T Inc (NYSE:T), Charter Communications, Inc (NASDAQ:CHTR), Comcast Corp (NASDAQ:CMCSA), Verizon Communications Inc (NYSE:VZ), and other companies are facing a significant challenge as a federal program that has been instrumental in providing free or heavily discounted high-speed internet to approximately 23 million American households will likely undergo substantial cuts in May.
The reduction in funding could leave numerous low-income families with increased costs or without internet service entirely.
The Federal Communications Commission (FCC) announced that due to Congress’s lack of new funding approval for this digital initiative, they would reduce the maximum subsidy to $14 per month, less than half of what some recipients receive towards their broadband bills, the Washington ...