California Business Minute™

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Hi, I am Tim Johnson and welcome to the California Business Minute.

Verizon Wireless and AT&T, the nation's two largest wireless carriers, were the
big winners in an auction for wireless spectrum that closed last week, according
to information released by the Federal Communications Commission (FCC).

Verizon Wireless bid $9.4 billion and AT&T $6.6 billion, together accounting for $16
billion of the $19.6 billion raised.

Despite the dominance of major carriers in the auction, FCC Chairman Kevin Martin
remained upbeat about the promise of future competition in the industry. "A bidder
other than a nationwide incumbent won a license in every market," said Martin in a
statement. "As a result of the 700 MHz auction, there is the potential for an additional
wireless `third-pipe' in every market across the nation."

Mountain View-based Google, which had elicited speculation that it was planning to
enter the wireless business, was not among the winning bidders. The FCC received its
initial bids in January for the 700 megahertz spectrum, which includes airwaves that TV
stations will no longer use as they switch to digital signals.

I am Tim Johnson and this has been the California Business Minute.

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