OVERNIGHT TECH: Facebook sets stock at $28 to $35 per share

THE LEDE: In a filing with the Securities and Exchange Commission (SEC) on Thursday, Facebook said it anticipates that its stock will debut at between $28 and $35 per share.

That price would raise an estimated $13.6 billion and would value the social networking giant at between $77 billion and $96 billion.

In the SEC filing, Facebook revealed that CEO Mark Zuckerberg plans to sell about $1 billion worth of his stock holdings before the public offering. Even after that sale, the 28 year-old will control 57.3 percent of the voting power of the company.

Zuckerberg's stake in Facebook is valued at as much as $18.7 billion.

The company said that at the end of March, it had 901 million active users, who uploaded 300 million photos per day and made 3.2 billion comments and "likes" per day.

The IPO is expected to be held within the next two weeks. Facebook plans to sell its stock through Nasdaq under the symbol "FB."

FCC pick has family ties with net neutrality: As Hillicon Valley reported Wednesday, Democratic FCC nominee Jessica Rosenworcel's brother is Brian Rosenworcel, the drummer for the acoustic rock group Guster. 

It turns out that in addition to recording catchy alternative rock songs, the band has also weighed in on a controversial telecom issue.

In 2008, Guster contributed a song to the album "Rock The Net: Musicians For Net Neutrality" to raise awareness about the issue. According to a website promoting the album, the artists "share the belief that the open internet is key to free expression, creativity and commerce."

The FCC adopted a net neutrality order in 2010 over the objections of industry groups, such as Verizon. The regulation bars Internet providers from blocking or slowing down access to a legitimate website.

For her part, Jessica Rosenworcel has been careful not to make any statements that would anger opponents of net neutrality. At a Senate hearing last year, she noted that the commission's order is currently in limbo in federal court, and she vowed to respect whatever decision the court makes.

The Senate is expected to approve the nomination of Rosenworcel and Republican Ajit Pai on Monday.


Advertisers pledged not to support "rogue" pirate sites.

The National Association of Broadcasters dropped its suit to block the FCC from allowing "white space" devices to access normally-unused television spectrum in order to provide wireless Internet services.

Facebook agreed to be an observer at the Global Network Initiative, an organization that aims to prevent censorship of the Internet by authoritarian governments.

Groups are alarmed that Verizon plans to end standalone DSL.

Rep. Edward Markey (D-Mass.) is “deeply concerned” about police tracking mobile phones with the help of carriers.

Verizon rebutted the criticisms of its proposed cable deal.

The AT&T CEO blamed the FCC for price hikes.