Today, the Federal Communications Commission is auctioning off 1,122 licenses for advanced wireless services, like high-speed Internet. Analysts say the move could raise as much as $15 billion for the
feds. There is strong interest among the 168 bidders in securing the radio spectrum, which could open the way for new advanced technologies, such as WiMax. The bidders consist of top cable and
satellite providers, as well as private-equity wireless startups. Some 90 megahertz of spectrum is to be auctioned off beginning today, but the auction is expected to take weeks to complete. Cable
operators Comcast Corp. and Time Warner Inc. have teamed with Sprint-Nextel to raise $637.7 million for the auction. Yesterday, Sprint separately announced plans to build an ambitious new WiMax
network--at an estimated cost of $4.5 billion. The biggest downpayment for the FCC auction--nearly $1 billion--came from satellite providers DirecTV Group, Inc. and EchoStar Communications, and media
conglomerate Liberty Media. Mobile-phone operators Verizon Wireless, Cingular Wireless and T-Mobile are also expected to bid aggressively to expand their network spectrum.
Read the whole story at Reuters.com »
