Why Comcast Stock Dropped Today
Shares of cable TV and internet provider Comcast (NASDAQ: CMCSA) stock slipped 2.3%, falling exactly $1 in share price through 12:30 p.m. ET Thursday.
The stock appears to be reacting to breaking news that the Federal Communications Commission (FCC) just voted to create a rule requiring cable providers to state an "all-in" price on their service offerings, both on bills and when advertising to new customers, as The Fly reports.
The FCC's rule has been in the works for about a year. In a press release last year, the agency explained it is requiring telecoms to "state the total cost of video programming service clearly and prominently, including broadcast retransmission consent, regional sports programming, and other programming-related fees, as a prominent single line item on subscribers' bills and in promotional materials." CNBC reported last month that the rule just approved would basically encapsulate all of the above in a new binding regulation.
Source Fool.com
