The regulations you are referring to is a problem in some areas I agree, where only certain groups are allowed to do whatever, but in even mid size markets there is not much for regulations that exist to keep competition at bay.
Half of the monopolies that have been created are because the companies are specifically expanding in areas the others don't exist. Right now this is seen as smart business investment, basically they are expanding "the pie" so to speak and going into areas where the service is desired but not offered yet, which is a no brainer business move.
The problem is in large markets where things are fairly saturated already, they have more or less entered into a silently understood agreement to stay the hell out of each other's territory and instead just gouge the ever living shit out of the customer base they already claimed. Without a way to actually prove they are doing this, they will continue to get away with it until they have saturated everything (which will take forever to actually do, especially considering things like Google Fiber and AT&T Fiber are the next step in service providing, previous ones being internet service in general with dial-up, then cable, then DSL, etc.). They can easily hide under the guise that they are trying to bring better connections to more people. That may be true to an extent, but on the side they know what the hell they are doing by jacking prices up now and just making this the expected norm. It is probably disgusting how high a profit margin they keep.
Seriously look at a service map of Dallas for instance, Verizon and AT&T are literally expanding along the each other's business line and there is VERY little overlap. There is no other provider to speak of because the investment cost is way too high in order to get initial service set up and they can strangle these businesses out before they have a chance.
I general don't like having to layer regulations as I feel like it just bloats and convolutes the system, but most large businesses are not good stewards and some amount of regulation on what they can charge is probably necessary for the time being at least. Once the markets are forced to overlap and real competition can kick in (the backbone of a free market economy), the problem won't be as bad imho.