Today, a bidder on the nationwide C Block slice of the coveted 700mhz spectrum offered up a whopping $4.71 billion.
This bid pushed the auction over the FCC reserve price - triggering the "open access" condition - requiring that the spectrum be accessible to any device or software application.
The bidders' identities are being kept anonymous so as to prevent anti-competitive activity (or so the FCC says) until the entire auction ends. Analysts have speculated that the most likely bidders for the C Block airwaves are Verizon Wireless and Google.
Google had said publicly that they would bid up the price to at least the reserve level so as to ensure the open access condition was put into place.
The C Block is one of five different sections of the 700mhz spectrum - though it is a nationwide slice and considered the most valuable. The 700mhz signal is coveted because it can not only travel a long distance, but can also penetrate thick walls.
Combined, the 700mhz auction is up to $12.78 Billion... and counting.
[RCR News]
Is it too basic to ask what the money is going to be used for? Does it go to legal fees to fight Opie & Anthony and Howard Stern? What does the FCC actually DO that they need $5 billion???
And here I always thought airwaves were free.
not when the goverment can make a profit off of it!
I really hope this spectrum is used in some way to roll out more broadband internet access to underserved areas of the U.S. There are many of us in rural areas whose only choice for broadband is satellite (which is horrible in comparison to other broadband services). This spectrum could be put to great use in providing wireless internet services to all of the U.S. if the buyer would do so.