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Wireless Spectrum Winners Are Revealed; Google Bids But Verizon Wins

The FCC finally unveiled the winners of the federal spectrum auction that closed earlier this week and raised a record-breaking $19.6 billion. The FCC said Verizon Wireless (NYSE: VZ) was one of the biggest winners, paying $4.7 billion for the C-block, which will require Verizon to build a network that will provide open access to devices and applications. The high-profile auction received a lot of attention because it provided a way for a newcomer to enter the wireless market. But most of the winners were incumbents, such as Verizon Wireless and AT&T (NYSE: T). The FCC confirmed that Google (NSDQ: GOOG), which lobbied hard to get the open-access provisions, did not win any licenses. The closest newcomer, which did win licenses, is Echostar (NSDQ: DISH) Communications, the satellite TV provider, which bought enough to provide the company with a nearly nationwide reach.

More details at our sister site mocoNews.net.

For results on the FCC Web site, click here and then on “Application Auction Search,” and on Results.

Mar 20, 2008 2:19 PM ET

Posted In: Legal, Regulatory, Companies, AT&T, Google, Verizon, 700 mhz

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