Breaking: FCC adopts Net Neutrality rules

The central question was whether network owners — like Comcast (CMCSA) or Time Warner Cable (TWC) — can discriminate what runs on their cables. The FCC’s answer on Thursday was: No.

The Democratic-led commission approved 3-to-2, split along party lines, to assert extra government authority over the Internet.

Now for the wild claims on both sides: “We saved the Internet!” or “We’ve destroyed it with government bureaucracy!”

Don’t believe the hype. Take a deep breath. It’s a long, tricky road ahead.