March 19, 2008
Wireless Spectrum Auction Raises $19 Billion
The government announced on Tuesday that it had closed the most lucrative government auction in history as wireless companies bid more than $19 billion for the rights to radio spectrum licenses. The New York Times reports.
"In the coming days, the FCC is expected to publish a list of the winning companies. The major participants included AT&T, Verizon and Google, although many experts said they did not expect Google would bid much more than the minimum reserve price of $4 billion for one of the more attractive groups of licenses.
The licenses are coveted because they will provide the winners with access to some of the best remaining spectrum — enabling them to send signals farther from a cell tower with far less power, through dense walls in cities and over wider territories in rural areas that are now underserved."
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