Frontline Wireless Fails to Find Money

A company created by former FCC chair Reed Hundt to participate in the upcoming spectrum auction has failed to find financing for a required $128 million deposit, and has dropped out of the competition for the controversial spectrum. A statement by Frontline Wireless said that the business had been “closed.” The company was one of several, including Google, AT&T and Verizon Wireless, who had signed up to participate in the auction later this month. The spectrum bidders could spend up to $7 billion on the frequency assignments in the 700 MHz band, which is highly sought-after for cellular-type communications, and which could provide lucrative revenues for the auction winners. The spectrum will also be used to create a national public safety radio network through the Public Safety Spectrum Trust (PSST). Read more about the shut-down and its possible effect on the public safety project here.