Darkman
09-18-06, 07:22 PM
Airwaves auction ends with $14B pledged
By JOHN DUNBAR, Associated Press Writer
(Last Updated: September 18, 2006, 03:37:14 PM PDT)
WASHINGTON (AP) - The Federal Communications Commission declared the latest and most lucrative auction of the public airwaves closed on Monday, with bids totaling nearly $13.9 billion.
The commission auctioned off 1,087 licenses over 28 days. It was the largest amount of radio spectrum usable for wireless services made available since the agency went to an auction format in 1994. The proceeds, still to be collected, will go to the U.S. Treasury.
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Deutsche Telekom bid aggressively to make up for a shortage of spectrum in its U.S operations. The second-highest bidder was Verizon Wireless Inc., the nation's No. 2 wireless provider, which pledged $2.8 billion for 13 licenses.
Third was SpectrumCo LLC, a consortium of cable companies led by Comcast Corp., which bid $2.4 billion.
Among the surprises in the auction was the entry and quick exit of satellite television providers DirecTV Group Inc. and EchoStar Communications Inc.
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( The entire article is at the following source: http://www.modbee.com/24hour/politics/story/3375671p-12419296c.html )
By JOHN DUNBAR, Associated Press Writer
(Last Updated: September 18, 2006, 03:37:14 PM PDT)
WASHINGTON (AP) - The Federal Communications Commission declared the latest and most lucrative auction of the public airwaves closed on Monday, with bids totaling nearly $13.9 billion.
The commission auctioned off 1,087 licenses over 28 days. It was the largest amount of radio spectrum usable for wireless services made available since the agency went to an auction format in 1994. The proceeds, still to be collected, will go to the U.S. Treasury.
----- etc --------
Deutsche Telekom bid aggressively to make up for a shortage of spectrum in its U.S operations. The second-highest bidder was Verizon Wireless Inc., the nation's No. 2 wireless provider, which pledged $2.8 billion for 13 licenses.
Third was SpectrumCo LLC, a consortium of cable companies led by Comcast Corp., which bid $2.4 billion.
Among the surprises in the auction was the entry and quick exit of satellite television providers DirecTV Group Inc. and EchoStar Communications Inc.
----- etc --------
( The entire article is at the following source: http://www.modbee.com/24hour/politics/story/3375671p-12419296c.html )