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Verizon Bests Google In FCC Auction

Verizon Wireless did it. Its bid of $4.74 billion beat out all the other interested parties and secured the C Block in the FCC's 700-MHz spectrum auction.

Today the FCC said that Verizon was the winner of the most valuable spectrum in the auction for 700 MHz airwaves. It has agreed to fork over a staggering $4.74 billion -- one quarter of the auction's entire proceeds -- for the right to own that spectrum.

Verizon Wireless issued the following statement today in connection with the Federal Communication Commission's announced results of Auction 73:

"We are very pleased with our auction results. Specifically, we were successful in achieving the spectrum depth we need to continue to grow our business and data revenues, to preserve our reputation as the nation's most reliable wireless network, and to continue to lead in data services and help us satisfy the next wave of services and consumer electronics devices.

"The bids we won include a nationwide spectrum footprint covering 298M Pops, plus 102 licenses for individual markets covering 171M Pops.

"In compliance with the FCC's anti-collusion quiet period rules, Verizon Wireless cannot comment further until that period ends."

The FCC also said that AT&T won 227 regional licenses in the B Block.

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