ROANOKE TIMES Copyright (c) 1997, Roanoke Times DATE: Saturday, April 26, 1997 TAG: 9704280039 SECTION: BUSINESS PAGE: A-10 EDITION: METRO DATELINE: WASHINGTON SOURCE: ASSOCIATED PRESS
Government licenses to provide wireless phone, television and data services, including Internet access, fetched nearly $14 million at auction Friday - far below congressional estimates.
The Federal Communications Commission, at Congress' request, auctioned a total of 128 licenses, each permitting a company to use a slice of the public airwaves and to serve specific geographic markets.
The figure fell far short of the $1.8 billion Congress estimated the auction would bring to the U.S. Treasury.
A unit of BellSouth Corp. was the highest bidder, offering $6.2 million for 22 licenses. The company is interested in using the licenses to provide cable TV service.
Government officials said the auction brought much less than the estimated $1.8 billion because the FCC was rushed to get the auction started by April 15 - as Congress required.
As a result, many interested companies did not have enough time to get business plans and financing together, officials said.
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