• The New York Times, Thursday, August 5, 2010 1:39 PM

Google and Verizon are close to signing an agreement that could let Verizon speed up online content to certain Web users and give their content priority over that of other Web users -- for a price. As The New York Times, the would-be deal would likely have far reaching implications, and fundamentally alter net neutrality. "Such an agreement could overthrow a once-sacred tenet of Internet policy known as net neutrality, in which no form of content is favored over another," reports The Times.

"In its place, consumers could soon see a new, tiered system, which, like cable television, imposes higher costs for premium levels of service." If Google and Verizon have their way, companies like YouTube would pay Verizon to ensure that its content received priority over other online content providers. What's more, "The agreement could eventually lead to higher charges for Internet users." As The Times notes, the deal would challenge efforts of the Federal Communications Commission to assert its authority over broadband service, which was severely restricted by a federal appeals court decision in April.

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