Bidding tops $3.7 billion in FCC wireless auction
Published January 27th, 2008
Bidding topped $3.7 billion on the second day of the FCC auction of government owned airwaves, but there were no new bidders Friday for a block of spectrum to be shared with public safety agencies.
The $3.7 billion, up from $2.78 billion on Thursday, represented the highest bids received for five separate blocks of spectrum in the auction, which is eventually expected to net the federal government at least $10 billion.
Participants are allowed to raise and lower bids throughout the entire process, which could last days or weeks, according to an FCC spokeswoman.
The auction, which could raise as much as $15 billion for the U.S. government, is part of a move to digital signals.
