The chief executive officers of Verizon Communications Inc and Google Inc are slated to hold a conference call on Monday, possibly revealing details for their deal on Internet traffic rules.

Google CEO Eric Schmidt and Verizon CEO Ivan Seidenberg will host a conference call with the media at 1:30 P.M. eastern time, a Google spokeswoman said.

Last week, the FCC halted a series of meetings that started in June with industry stakeholders aimed at hammering out a deal on a set of Internet traffic principles, called net neutrality.

The underlying idea of net neutrality is that broadband providers should not be able to block or slow down content, or charge Web sites to pay for a fast lane to reach users.

The hope among FCC officials and the stakeholders was that if they could solve the net neutrality conundrum, then the FCC could drop a proposal to reclassify broadband under stricter carrier rules.

The FCC meetings, however, were suspended after reports of the side deal between Verizon and Google, who came together on ways to route Internet traffic without the rest of the group.

The private meetings at the FCC involved Google, Verizon, AT&T Inc and other Internet companies to set rules for the industry.

(Reporting by John Poirier; editing by Andre Grenon)

Eric E. Schmidt Verizon Communications Inc. Google