700MHz Auction, Bids are Coming Low, Too low

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After going through 3 rounds of auctions 700 MHz band, FCC and Congress should be disappointed. They were expecting to raise $10 Billion with these auctions but were only able to raise $3.2 Billion.
The auctions were opened Thursday 24th 2008, but bidding could continue for weeks. In most cases, the high bids don't even meet the FCC's reserve price set for minimum winning bids. A fourth round of bidding was scheduled for today.

The highest bid after the third round was $1.49 billion for eight of 12 regional licenses in the C block, a 22MHz block of spectrum covering all 50 states. The FCC's has a minimum price set for the C block is $4.6 billion. It also comes with additional coditions, the winning bidders of C block spectrum must allow any legal devices to connect to their network, including mobile phones purchased from other carriers.

tag: 700 MHz band, FCC,