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Technology Stocks : CellularVision (CVUS): 2-way LMDS wireless cable.
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To: James Fink who wrote (1196)2/18/1998 10:34:00 PM
From: James Fink  Read Replies (1) of 2063
 
US spectrum auction draws $192 mln in first round

Reuters Story - February 18, 1998 22:00

WASHINGTON, Feb 18 (Reuters) - The Federal Communications
Commission opened bidding Wednesday on the rights to a broad
swath of airwaves, with high bids totaling $192 million in the
first round. WNP Communications Inc, a private firm backed by half a
dozen venture capital funds, by far placed the largest total
amount of bids at $135.8 million. No other firm placed bids totaling more than $8 million, with U.S. West in second-place with bids totaling $7.9 million.

But the bids could rise substantially as the 139 participating companies review the first round results and place new bids on Thursday. The auction runs indefinitely until no firm wants to increase its bid. Government budget analysts have estimated total proceeds from the auction of $500 million.

Winners of licenses for the microwave spectrum known as
"Local Multipoint Distribution Service" or LMDS will have the
capacity to broadcast thousands of telephone calls or hundreds
of television channels to businesses and residences.

The FCC is auctioning a large and small capacity license in
each of 493 geographic markets. The highest single bid was WNP's $18 million offer for the large capacity license in Los Angeles. US West bid $3.3 million for the small capacity L.A. license. For the New York City license, WNP topped all offers at $11.8 million for the high capacity permit but no bids were placed for the small capacity license.

WNP was also the leading bidder after round one for the
high-capacity licenses in Chicago, San Francisco, Philadelphia,
Detroit, Dallas and Boston, the FCC said. Initially, most companies that win licenses are expected to offer telephone and high-speed Internet connections to small-and medium-sized businesses, but once the networks are up and running residential customers will get linked as well.
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