FCC RESCINDS $1B IN SPACEX SUBSIDIES

The Federal Communications Commission (FCC) has rescinded nearly $1 billion in rural broadband subsidies to SpaceX‘s Starlink satellite service.

In a news release, the agency said that it determined that applications from SpaceX and another firm, LTD Broadband, failed to meet the requirements for government funding for its Rural Digital Opportunity Fund (RDOF) program.

The FCC previously awarded Space X nearly $886 million in 2020 in an effort to expand high-speed internet access to rural areas through its Starlink satellite service.

The agency also awarded LTD Broadband $1.32 billion for the same purpose, but the Las Vegas-based business struggled to expand its service, failing to receive eligible telecommunications carrier status in seven of 15 states.