Google came out with the winning bid for the 700mhz frequency that the FCC has been auctioning off. A nice price tag of USD$4.7bn for the frequency.
A bid of $4.7 billion this morning for the most valuable group of wireless licenses in the Federal Communications Commission auction for 700Mhz spectrum pushed the price over the minimum price the government set. That means that the government is likely to receive over $12 billion for the block of spectrum that is being abandoned next year as television broadcasters move permanently to new digital frequencies. The government has said it hoped to earn at least $10 billion from the auction.
Do not for a second think that this bid went down quietly though. The FCC and Google have been butting heads for a while, but Google came out with the largest bid and won the auction.
This will be a perfect fit for the rumored Google Phone and other acquisitions they’ve already made.
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January 31st, 2008 at 4:34 pm
[...] of bidding and that minimum bid has been met. But who made it? By auction rules the identity is "kept secret" (yeah right) so I’m have to speculate [...]
January 31st, 2008 at 4:36 pm
Now that’s good news considering that the current bidders are supposed to be kept secret and the bidding supposedly has days to run yet.
Either way, thanks for the info.