CNBC reports that the Federal Communications Commission approved the first application to provide broadband service through satellites on March 29. Elon Musk's SpaceX applied to provide broadband services through low-Earth orbit satellites. "With this action, the Commission takes another step to increase high-speed broadband availability and competition in the United States," the FCC said in a statement. SpaceX's proposed satellite system would use 4,425 satellites with frequencies in the Ka and Ku bands, which are 12-18 GHz and 27-40 GHz, respectively. "We appreciate the FCC's thorough review and approval of SpaceX's constellation license. Although we still have much to do with this complex undertaking, this is an important step toward SpaceX building a next-generation satellite network that can link the globe with reliable and affordable broadband service, especially reaching those who are not yet connected," said Gwynne Shotwell, President and Chief Operating Officer at SpaceX, in a statement. Read the full story at CNBC.