I first would like to thank all of our witnesses today for their time and cooperation. I hope that with this hearing we will better understand the so-called broadband issue, which all of us have heard so much about recently. The focus of the hearing will be on how recent consolidation in the communications industry, especially within the cable industry, might affect competition and consumer choice for high-speed Internet service and content.
Competition is critical to the future of the Internet.
It is competition that has created the robust Internet economy that we are experiencing today. Companies and venture capitalists have made unprecedented investments in new Internet products, services and technologies. Continued growth in this area is vital to our economy and our global leadership in the information technology sector. Indeed, many of the new technologies we enjoy today are the fruits of the de-regulatory objectives of the 1996 Telecommunications Act. If further deregulation of the telecommunications markets is warranted, and I am not saying that it is at this point, this Committee and its Chairman intend to continue to work with Senator McCain and the Commerce Committee to do what is fair.