Google and Facebook Square Off on Net Neutrality (GOOG)

Google (NASDAQ: GOOG) and Facebook, two of the strongest online companies in the world, are coming to blows over a proposed net neutrality agreement.

On Wednesday, Facebook said it disagreed with a recent proposal put forth by Google and Verizon (NYSE: VZ) on net neutrality. Google shot back on Thursday, outlining the "inaccuracies" about its position.

"We're not so presumptuous to think that any two businesses could -- or should -- decide the future of this issue," Google said in its blog. "We're simply trying to offer a proposal to help resolve a debate which has largely stagnated after five years."

According to a CNNMoney.com report, "The Google-Facebook battle began on Monday, when Google and Verizon announced a joint proposal suggesting that the Federal Communications Commission regulate "wired" broadband Internet connections differently than wireless networks and new Internet technologies. The companies argued that it would be improper for the government to apply the same rules on the mobile market as the wireline broadband market, since the wireless market is more competitive and rapidly changing."

The proposal was met with resistance, however, as supporters of net neutrality said that telecommunications firms should be legally prohibited from choosing what content is prioritized.

Facebook said Wednesday in a statement that it supports net neutrality "for both landline and wireless networks." Further, "the Internet should be "accessible to innovators -- regardless of their size or wealth."

Google and Verizon are both down more than 0.5% today, to $489.24 and $30.05, respectively.

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