FCC Wireless Auction Raises Almost $13.9 Billion

WASHINGTON -(Dow Jones)- The Federal Communications Commission on Monday wrapped up an auction of licenses to provide new wireless services, generating almost $13.9 billion.

T-Mobile USA, a unit of Deutsche Telekom, was the top bidder, bidding almost $4.2 billion for 120 licenses. Verizon Wireless agreed to pay $2.8 billion for 13 licenses, while a consortium that includes cable companies Comcast and Time Warner along with Sprint Nextel agreed to pay almost $2.4 billion for 137 licenses.

-By Siobhan Hughes, Dow Jones Newswires; 202-862-6654; Siobhan.Hughes@dowjones.com

(END) Dow Jones Newswires "

Posted to the site on 18th September 2006