Spectrum auction nets close to $13.5 billion

The ongoing auction of reclaimed government spectrum for wireless services has shown the licenses to be even more valuable than some predicted, reports Broadcasting & Cable. With 1,004 of 1,122 licenses sold to high bidders such as Verizon and T-Mobile, the government has gained more than $13.4 billion for the treasury. An auction of reclaimed analog broadcast spectrum will happen in 2008.