FCC's 700MHz auction tainted by extortion charges
03/24, 4:15pm
700MHz auction extortion?
The FCC has agreed to look into accusations of extortion following its 700MHz wireless auction, reports say. While major blocks of the sought-after spectrum were quickly snapped up by companies such as AT&T and Verizon, the D block was largely abandoned, receiving a single $472 million bid by Qualcomm -- well short of the FCC's asking reserve price, $1.3 billion. The investigation will be headed by the FCC's inspector general, Kent Nilsson.