Frontline Drops Out of FCC Spectrum Auction, Dissolves Company
Jan 9, 2008, 12:53 PM by Eric M. Zeman
Frontline abruptly dropped its bid to participate in the FCC 700 MHz auction set to begin later this month. It a short statement, Frontline said the company was closed for business and it offered no further comment. Frontline was created for the purpose of bidding in the auction and it played a role in shaping some of the conditions of the auction. It could not raise the initial $128 million upfront payment required by the FCC to bid on spectrum, which is expected to cost at least $4.6 billion.
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