THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Thursday, December 22, 1994 TAG: 9412220577
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
SOURCE: (Bloomberg/Staff)
LENGTH: Short : 22 lines
The Federal Communications Commission shut down its auction of wireless phone licenses for a holiday break, after telecommunications groups pushed high bids to $1.66 billion. The 27 remaining bidders now have until Jan. 4 to recover from 13 days of bidding for the licenses. After a slow start, the auction picked up steam this week, with the competitors submitting 62 new offers Wednesday. High bidders for two licenses in the Richmond-Norfolk market are PCS Primeco L.P., a consortium of phone companies led by Bell Atlantic Corp., and Continental Cablevision Inc. They bid $22 million and $20.6 million respectively. by CNB