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The FCC's $19 billion baby.

Publication: Regulation
Publication Date: 22-SEP-08 		Format: Online
Delivery: Immediate Online Access
Full Article Title: The FCC's $19 billion baby.(BRIEFLY NOTED)

Article Excerpt
The Federal Communications Commission has completed its auction for a big swath of electromagnetic spectrum in the 700 megahertz frequency range that was recently reclaimed from television broadcasters. Who cares, you say? Some heavy corporate hitters, including Google, AT&T, and Verizon, certainly do. And so should you.

The allocation of this techno-friendly "beachfront property" spectrum is expected to usher in a new era of innovation in wireless communications, making it cheaper and faster to download movies, surf the Internet, send instant messages, or do anything else you can imagine on a mobile device. And then there's the money: bidders paid $19 billion to the U.S. Treasury for the rights--a record for a U.S. airwaves auction and a nice chunk of change even in an era of 10-digit federal budgets.

C BLOCK But the auction was not without controversy....

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