FCC Bids Out 700 Megahertz Spectrum Licenses; AT&T, Verizon Top Bidders

Washington, D.C. (AHN) - The Federal Communications Commission (FCC) will auction off the country's premium radio spectrum on Thursday and the two biggest telephone companies are expected to buy a large chunk of the multi-billion dollar licenses at stake.

FCC is selling a total 1,099 licenses for the 700 megahertz airwaves, including five blocks of licenses worth at least $10 billion.

AT and T Inc. and Verizon Communications Inc. are sure bidders and likely winners because of their financial capacity to exploit the spectrum. Search engine giant Google Inc. is also expected to bid, but is not likely to win any licenses.

The said airwaves are coveted because it will allow license-holders unprecedented business opportunities.

The bidding will be daily and can be viewed online at the FCC website.