SpaceX denied nearly $900 million in broadband subsidies
CNN
In a high-stakes decision, federal regulators announced Wednesday that SpaceX will not receive nearly $900 million in subsidies that the company was awarded in December, citing the fact that its satellite-based service is "still developing technology" and the company "failed to demonstrate that [it] could deliver the promised service."
The Federal Communications Commission had earmarked the funds for SpaceX's Starlink internet service as part of the agency's largest-ever subsidy program designed to quickly get internet access to people across rural America, where three out of five people say access to high-speed internet is still a pressing issue.
SpaceX was slated to receive a total of $856 million, one of the largest chunks of the $9 billion that was auctioned off.
