In a First On Fast Money, Verizon president and COO Dennis Strigl reveals why an FCC ruling Wednesday could give the phone giant's TV business a big boost.
Here’s some background…
Federal regulators plan to throw out exclusive cable television service contracts with apartment buildings and open up competition to phone companies, according to an AP report.
The new rule, which could significantly lower cable prices for millions of subscribers who live in apartments, is expected to be approved Wednesday by the FCC, The New York Times reported Monday, citing an interview with the agency's chairman.
Under FCC Chairman Kevin Martin's proposal, cable companies, such as Comcast Corp. and Time Warner Cable Inc., would no longer have exclusive deals with apartment buildings and other multiunit dwellings to provide cable TV to building residents, who usually have no other choice for such services.
The new rule could benefit other video providers, including telecommunications companies Verizon Communications Inc. and AT&T Inc.
Following are excerpts from the conversation between Dennis Strigl and the Fast Money panelists.