Republicans working to nix FCC privacy rules could change the competitive marketplace for advertising, as Bloomberg reports. The rules in question, which were adopted by the agency last fall, require cable and telephone companies to get consent from a customer before sharing personal data and data about their internet app use with third-party advertisers.

The winners: If this rule slashing goes through, companies like AT&T, Verizon, Comcast, and Charter. They'll be better able to host ads that target subscribers. That'll allow them to compete against Google and Facebook, which currently dominate the online advertising market.

The losers: Privacy. Proponents of keeping the rule say cutting it would be akin to saying "it's OK for the big phone and cable companies to spy on Americans," as the Executive Director for the Center for Digital Democracy noted.

What to watch: Congressional Republicans are poised to use the Congressional Review Act to overturn the regulations. Senate backers of the effort are hoping to move it to a vote as soon as today, according to congressional sources.