03:11 PM EST, 02/27/2025 (MT Newswires) -- The US Federal Aviation Administration is preparing to cancel a $2.4 billion communications overhaul contract currently awarded to Verizon Communications ( VZ ) , The Washington Post reported late Wednesday, citing sources with knowledge of the matter.

The project is reportedly expected to be awarded to Elon Musk's Starlink.

FAA, Starlink and Verizon did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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