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Who controls the Internet and how you access it is the subject of an increasingly heated debate -- and a turning point is nearing.

The argument is about a standard known as "Net neutrality," which is being fiercely fought out by two groups: content creators -- like Google, Yahoo, Amazon.com and eBay -- and Internet providers, including Verizon, Comcast, AT&T and Time Warner Cable.

If enforced by government regulators, Net neutrality rules would require Internet providers like phone and cable companies to treat all Web content equally. They would prevent providers from restricting access to certain sites or applications, or collecting fees to deliver some sites faster than others.

Content providers largely support Net neutrality, while Internet providers mostly argue against it. The Federal Communications Commission -- which tried to implement Net neutrality rules but got smacked down in April by a court ruling saying it did not have the authority to do so -- has held a series of meetings with industry representatives over the past few months as it prepares a proposal asking Congress to give it new authority to regulate broadband.

But two key players in those talks -- Google and Verizon -- are on the verge of announcing their own deal mapping out what they think the playing field should look like.

Verizon and Google are reportedly close to an agreement that meets somewhere in the middle: Verizon would not favor certain types of content over others on its FiOS wireline broadband network. However, those restrictions would not apply to its Verizon Wireless mobile network, which has more significant bandwidth constraints.

Neither company would comment officially on their talks, but Google CEO Eric Schmidt hinted Wednesday at what the agreement would likely entail at the Techonomy conference in Tahoe, Calif

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