An article on Bloomberg.com last night has the internet buzzing. Reports from inside Verizon are quoted as saying that they are looking seriously at making a play for online video giant NetFlix, and are definately looking to move into the online video space quickly.

What does this mean for those of us who rely on content from NetFlix to replace cable in our homes? It could mean nothing, but it could cause some issues. Without net neutrality laws in place, Verizon could reduce the speed of connections from other carriers. A Verizon buyout of NetFlix could also be the beginning of a major grab by internet service providers to gobble up even more online distribution players. Hulu could be next, and making these mega content providers exclusive to broadband internet ownership could put an end to the "cord-cutter" movement that has been all the rage in recent months.

In our house, we cancelled Cable TV in December of 2009, and haven't looked back. In another post I'll show you how we set things up here in our house, but the loss of NetFlix and Hulu would be a major blow.

Let's hope the FCC put restrictions on these types of transactions like they did when Comcast picked up NBC/Universal, or life could get a whole lot more expensive.