Spectrum Auction Ends with $20 Billion in Winning Bids

radio waves jiu.jpgIt took more than a month (38 days), and 261 rounds, but the FCC’s auction for the 700 MHz wireless spectrum is finally over. The auction raised a staggering $19.59 billion in “provisionally winning bids,” a record amount for an FCC auction, RCR Wireless News reports.

Throughout the process, bidders were kept anonymous to “prevent anti-competitive activity,” according to the article. The names of the winning bidders will be released within 10 days.