No. Their role in cable TV is mainly limited to stuff like transmission issues (making sure the broadcasts to and from the satellites are up to snuff techically; if, say, CNN's signal were poorly implemented, it could bleed over onto other transmissions aimed at the satellite and cause interference), and regulation of local cable companies (how much they can charge, which local stations they must carry, picture quality, etc). They have no say in what cable programming is out there. If you want to start a cable channel, and have the money to do it, they cannot stop you. (Likewise, they cannot force any cable company to carry your channel.)
After all, the only limit to the number of cable channels is how many satellites are in orbit, and the only real limit to the number of satellites is how many private companies are willing to build, launch and maintain them. If there's no finite capacity, there's no legitimate reason for the FCC to regulate it.