Spectrum Results Are Out; Google Bids But Verizon Wins
Friday, March 21, 2008; 11:00 AM
The winners of the recent government spectrum auction that raised $19.6 billion are finally being revealed. Based on early reports, the results are as expected: Verizon Wireless (NYSE: VZ) had the winning big for the swath of airwaves to be used for open-access; not Google (NSDQ: GOOG), MarketWatch reports. The FCC Web site must be experiencing high volume because it is failing to connect very quickly. For results, click here and then on "Application Auction Search," and then on Results.
Ok, here's some early findings:
-- The controversial D-Block, which would have required the winning bidder to reserve a portion for public safety, never reached a minimum bid. It only received one big in the first round for $472 million. That bid was placed by Qualcomm.
-- Verizon Wireless paid $4.71 billion for the entire C-Block, which they will have to make open to all devices and all applications.
-- Echostar (NSDQ: DISH) Communications, the satellite TV provider, won significant numbers of licenses, enough to provide the company with a nearly nationwide license, according to WSJ.
-- The FCC said AT&T (NYSE: T) won 227 licenses from among the "B" block of regional licenses, Reuters reports.
-- Smaller regional blocks of licenses were purchased by a variety of carriers, including: MetroPCS, Frontier Wireless; CenturyTel and others.
More to come.