By 
The Federal Communications Commission rescinded more than $2 billion in grants previously awarded to Elon Musk’s SpaceX and a small internet provider after the regulator ruled the companies weren’t likely to meet requirements for government funding to help expand broadband access.
The FCC had awarded SpaceX, formally known as Space Exploration Technologies Corp., $886 million in 2020 to provide faster internet to places with poor connections or no broadband access through its Starlink satellite service.
The agency pulled $1.32 billion in grants for LTD Broadband, a small, Las Vegas-based broadband provider. LTD has struggled with missed regulatory deadlines in several of the states where it planned to expand service.
A SpaceX spokesman didn’t immediately respond to a request for comment. LTD Chief Executive Corey Hauer said the company was disappointed by the decision and was reviewing its next steps.
“I don’t believe the FCC fully appreciated the benefits LTD Broadband would bring to hundreds of thousands of rural Americans,” he said.
An expanded version of this report appears on WSJ.com.
Also popular on WSJ.com:
The place with the most lithium is blowing the electric-car revolution.
Social Security benefits are heading for the biggest increase in 40 years.
Comments