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CCV - Churchill Capital V News Story

$9.91 -0.0  -0.4%

Last Trade - 14/05/21

Sector
Financials
Size
Mid Cap
Market Cap £483.3m
Enterprise Value £482.3m
Revenue £n/a
Position in Universe 3217th / 6846

UPDATE 1-FCC chairman Ajit Pai plans to step down Jan. 20

Mon 30th November, 2020 8:18pm
(Adds more details)
    By David Shepardson
    WASHINGTON, Nov 30 (Reuters) - Federal Communications
Commission (FCC) Chairman Ajit Pai, who oversaw the repeal of
landmark U.S. net neutrality rules and a series of key spectrum
auctions to address growing wireless needs, said Monday he plans
to leave the commission on Jan. 20.
    Pai's departure will come the same day President-elect Joe
Biden is sworn into office. Under Pai, the FCC voted 3-2 in 2017
to repeal the Obama administration's 2015 net neutrality rules
barring internet service providers (ISPs) from blocking or
slowing internet content or offering paid "fast lanes." 
    The FCC voted in October to maintain the repeal. "It is
patently obvious to all but the most devoted members of the net
neutrality cult that the case against the (net neutrality
repeal) was a sham," Pai said in October.
    Democrats are likely to attempt to reinstate the 2015 rules
when they take control of the FCC and argue they are crucial to
maintaining an open internet.
    Pai, who was tapped by President Donald Trump to lead the
agency in January 2017, had said the FCC needed to take a "weed
whacker" to unneeded rules. He oversaw the repeal of numerous
prior regulations.
    Trump has pressed the FCC to adopt new rules to limit the
legal protections of social media companies like Twitter
 TWTR.N .
    Pai said in October his agency would move forward to set new
rules to clarify the meaning of a key legal protection for
social media companies but took no formal action.
    The Senate Commerce Committee on Wednesday is set to vote on
the nomination of Nathan Simington, a senior administration
official, to a seat on the FCC after Trump withdrew the
nomination of FCC Commissioner Mike O'Rielly for another term
after he made statements questioning the FCC's authority to move
ahead with new social media regulations.  
    In October 2017, Pai rejected Trump’s tweet the FCC could
challenge the license of Comcast Corp's  CMCSA.O  NBC over
stories Trump asserted were not true. 
    Pai convinced hundreds of internet providers to agree for
months not to cancel service for customers impacted by the
coronavirus pandemic.
    Pai also backed the $26 billion tie-up of Sprint Corp and
T-Mobile US  TMUS.O  after the companies agreed to deploy a next
generation 5G network.

 
    

 (Reporting by David Shepardson
Editing by Chizu Nomiyama)
 ((David.Shepardson@thomsonreuters.com; 2028988324;))
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