FCC auction for C block reaches minimum bid

The FCC auction for the 700 Mhz spectrum has been ongoing for a few days now but today it passed a critical point as a bid of $4.7 billion surpassed the reserve price of $4.6 billion. This is a key point as the open access requirements that were put into place by the FCC would only stay in place if the reserve price was hit. As the bidders are not revealed during the process it is unknown who made the bid that surpassed the reserve price, but many have speculated that Google was involved in the auction simply to make sure that reserve price was met.

[Via: Phonescoop]