FCC Spectrum Auction Begins

The Federal Communications Commission will begin auctioning off the 700 MHz spectrum today. The FCC will put 1,099 spectrum licenses up for bid, and those will be awarded to a number of the 214 registered applicants. Verizon Wireless, AT&T, Google, Qualcomm, and Cablevision are all expected to make bids. The bidding is expected to last up to a month, and the government expects to make at least $10 billion by selling the airwaves. Interested parties can follow the auction on the FCC's website.