The eye-popping bids in the current auction
of wireless frequencies by the Federal Communications Commission are a
testament to soaring demand for mobile Internet service.
As of last week,
bids in the auction exceeded $38 billion, far more than the $10.5
billion reserve price set by the F.C.C. These frequencies, also known as
spectrum, are needed to expand cellular networks so they can carry more
phone calls and data.
The
superheated bidding provides fresh evidence that the telecommunications
industry is thriving despite protests by executives at companies like Verizon and AT&T that they are being stymied by regulation. Phone companies are upset that President Obama recently called for
strong rules that would prohibit telecom companies, including wireless
businesses, from creating fast and slow lanes on the Internet. His
proposal needs to be approved by the F.C.C., an independent agency that
is not obliged to do what Mr. Obama wants but that in this case should
follow his direction.
read full article at NY Times
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