Airwaves auction may bring in billions

Big money coming in from the airwaves! No, this has nothing to do with a commercial per se, rather an auction between cell phone companies.

WASHINGTON - High-speed Internet access, streaming video, music downloads and other special new features may soon be in store for mobile phone owners thanks to an unprecedented airwaves auction.

The auction, conducted by the Federal Communications Commission, has attracted 168 interested bidders, each hoping to offer the next generation of wireless services.

The
Congressional Budget Office estimates the sale will raise between $10 billion and $15 billion for the U.S. Treasury. Already, it has brought in $4.3 billion from bidders who made payments simply to qualify to participate.

The auction, which was beginning Wednesday, will add badly needed capacity to the maturing cellular telephone market and allow for clearer connections and sharper pictures in addition to a host of new services…. Source: AP