35 qualify for FCC spectrum auction

Jan 12 2005 - 12:44 AM ET | In The News

The FCC has announced that 35 bidders have qualified to participate in a January 26th auction of wireless spectrum. While the action starts on the 26th, it may take a bit of time before the dust settles--bidding will end once no more bids are placed. 14 companies were rejected from the auction process. bq. The bidders made about $325.3 million in upfront payments to the Federal Communications Commission for the auction of 242 wireless communications licenses. Verizon Wireless and T-Mobile USA are expected to lead the final count. Markets included in the sale include majors like Los Angeles, Denver and Orlando.

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