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FCC auction reaches $2.8B for 700-MHz wireless licenses

First full day sees a second bid of $1.2B for a large license

January 24, 2008 12:00 PM ET

Computerworld - At the close of the first full day of bidding for 700-MHz wireless spectrum today, the Federal Communications Commission reported nearly $2.8 billion in provisional winning bids.

There were 1,122 new bids filed in the second of two rounds that was held in the afternoon. The total value of all provisional bid winners jumped 15% from the morning bidding round, when $2.4 billion was offered.

A total of 1,099 licenses can be bid upon, although only 902 had received bids by the end of the day.

All the bids are filed anonymously and bidders are prohibited from publicly discussing their bids in an effort to reduce anticompetitive behavior, the FCC said.

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