An anonymous reader writes “Google is planning to spend over $1 billion on a fleet of satellites to extend Internet access to unwired regions around the world. ‘The projected price ranges from about $1 billion to more than $3 billion, the people familiar with the project said, depending on the network’s final design and a later phase that could double the number of satellites. Based on past satellite ventures, costs could rise. Google’s project is the latest effort by a Silicon Valley company to extend Internet coverage from the sky to help its business on the ground. Google and Facebook Inc. are counting on new Internet users in underserved regions to boost revenue, and ultimately, earnings. “Google and Facebook are trying to figure out ways of reaching populations that thus far have been unreachable, ” said Susan Irwin, president of Irwin Communications Inc., a satellite-communications research firm. “Wired connectivity only goes so far and wireless cellular networks reach small areas. Satellites can gain much broader access.”‘” Read more of this story at Slashdot.