Cable stocks took a beating Friday, one day after regional phone company
Verizon Communications said it would slash prices for high-speed Internet
On Thursday, Verizon said it would offer high-speed digital-subscriber-line
service to new customers for $34.95 per month. Most analysts expect all of
Verizon's customers to eventually migrate to the cheaper service.
DSL's high cost has been a major selling point for cable's high-speed-data
service. In the past, Verizon has charged between $49.95 and $59.95 per month