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However, unlike Warner Bros., which announced its deal with Blockbuster two weeks ago, 20th Century Fox hasn’t inked agreements with Netflix or Redbox that would delay their own new release windows. In fact, Redbox is still in the midst of a legal battle with Fox, after the studio sought to keep retailers from selling DVDs that the company could put into its kiosks.

Sony Pictures Entertainment and 20th Century Fox are at the heart of today’s news, which, combined with an earlier deal struck with Warner Bros., will extend Blockbuster’s ability to rent movies on the same day and date that they go on sale at other retailers.

But Comcast had argued that the FCC order was illegal because the agency was seeking to enforce mere policy principles, which don't have the force of regulations or law. That is one reason that Genachowski is now trying to formalize those rules.

With so much at stake, the FCC now has several options. It could ask Congress to give it explicit authority to regulate broadband. Or it could appeal Tuesday's decision to the Supreme Court.

The more likely scenario, Scott believes, is that the agency will simply reclassify broadband as a more heavily regulated telecommuniciations service. And that, ironically, could be the worst-case outcome from the perspective of the phone and cable companies, he noted.