Appeals court says it won't delay FCC's net neutrality rules, which will take effect Friday

MarketsAssociated Press

An appeals court says it won't block net neutrality rules, which will go into effect Friday as a result.

The U.S. Court of Appeals for the District of Columbia Circuit says the United States Telecom Association, the plaintiffs, did not satisfy the requirements for a stay. The ruling is a setback for the industry, but the litigation against the rules will go on.

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Federal Communications Commission Chairman Tom Wheeler said the ruling is a huge win for consumers.

In February the Federal Communications Commission approved new rules that upheld the concept of net neutrality, meaning all online content should be allowed to load at the same speed. The agency said broadband providers can't give faster speeds to some content.

The lawsuit says the rules violate federal law and are arbitrary.