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FCC Allows Full Opt-Out For Auction 35 Bids

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Nov 15, 2002, 2:03 AM   by (staff)

The Federal Communications Commission (FCC) said on Thursday it will let carriers completely opt out of Auction 35 bids for wireless licenses without penalty. The move will free $15.9 billion that was previously committed to the auction, eliminating a massive financial burden hanging over the companies. The licenses fell into in limbo following the bankruptcy of their original owner, NextWave Telecom, a controversy which is currently in the hands of the Supreme Court. Verizon Wireless, AT&T Wireless, and Leap Wireless all indicated that they planned to excercise the opt-out option.

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