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Chairman Julius Genachowski is shifting the FCC’s emphasis from net neutrality...

Chairman Julius Genachowski is shifting the FCC’s emphasis from net neutrality and broadband reclassification to issues including Universal Service Fund and intercarrier compensation overhaul, special access, telecom/video competition policy, consumer protection and spectrum, Stifel Nicolaus said Wednesday in a research…

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note. But net neutrality and reclassification aren’t “dead” and the firm expects “more wrangling on these interrelated issues,” the note said. The “elephant in the room” is the Nov. 2 elections, the note said. “Republicans are likely to score gains in midterm election and could retake the House and even the Senate, which we believe would be positive for the Bells and cable. The partisan dynamics complicate legislation before the election, while the November results will shape a Lame Duck session and produce fallout for FCC."