Shares of cable companies and other broadband providers dipped lower Thursday after federal regulators OK’d plans that would prohibit them from charging more for Internet fast lanes.

Shares of Comcast fell 1.12% to $58.96 a share on Thursday, while shares of Time Warner Cable dropped 1.65% to $152.07 a share in midday trading.

The two companies, which plan to merge by the end of this year, control 40% of the nation’s wired broadband market.

Shares of wireless Internet providers, meanwhile, rose slightly on the news, despite their opposition to the Federal Communications Commission’s plans to seek Internet regulation that would crack down on what broadband providers can charge content providers.

Shares of AT&T rose 0.9% to $34.53  a share, while shares of Verizon Communications ticked up 0.03% to $49.36 a share.

The proposed rules, passed by three out of five FCC commissioners, seek to treat Internet pipes as a public utility, thus allowing the FCC to regulate their fees.

The crackdown comes as companies like Verizon have been paving legal ground to charge twice for their pipes — first to consumers who pay for their services and secondly to content providers such as Netflix in order to send the content in a speedy and timely manner.

Shares of Netflix, whose CEO Reed Hastings staunchly opposed the two-sided payment system, jumped 0.7% to $481.94 a share on Thursday.

Netflix would have been hit hardest if broadband providers that sell to end-consumers were also allowed to charge content providers since videos take up a lot of broadband space and Netflix has been accused of clogging up the pipes.

Shares of Level Three Communications dropped 1.1% to $53.28 a share, while shares of Cogent Communications fell $1.74% to $35.92 a share. They are companies that provide pipes on the back-end of the network, connecting content providers like Netflix to the front-end of the network, which is controlled by Comcast, TWC and other consumer-facing providers.

Back-end providers like Cogent often sided with Netflix in the fight over Internet fast lanes, in part because they feared Comcast and other front-end providers would seek to keep them out of the market by making deals directly with the content providers. But the FCC’s could also impose stricter rules on what they charge to get content from the providers to the front-end of the network.

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