A sale of communications airwaves by the federal government to the commercial wireless industry closed Tuesday, after 261 rounds of bidding and
The sale has been among the most closely followed in the 15-year history of airwaves auctions as the spectrum being sold has the ability to transmit signals over vast geographic distances and through buildings in urban settings.
Commercial wireless companies are expected to use the spectrum to support fourth generation, or 4G, cellular service. This is expected to include high- speed wireless broadband service at similar speeds to wired Internet connections.
The auction potentially pegged incumbent wireless service provider Verizon Wireless against newcomer
Last year,
After the FCC agreed to implement these conditions, major wireless carriers like Verizon Wireless and
The final price tag of
This was the largest amount ever raised in an FCC spectrum auction.