FCC Closes 700MHz Auction at $19.5B

The FCC's 700MHz auction closed yesterday with bids totaling  to a whopping $19.6 billion.What surprising is that the 700MHz auction surpassed the $19.1 billion combined total raised by the FCC in 68 other auctions over the last 15 years. FCC hasn’t disclosed the winners of the 1,099 licenses yet.

"The open platform will help foster innovation on the edge of the network, while creating more choices and greater freedom for consumers to use the wireless devices and applications of their choice," FCC Chairman Kevin Martin said in a statement. "A network more open to devices and applications can help ensure that the fruits of innovation on the edges of the network swiftly pass into the hands of consumers."