Lynch Interactive, a holding company with subsidiaries in multimedia, filed an application with the FCC to participate in the “C” Block of the Lower 700 MHz Auction (UHF channels 52-59) being conducted by the FCC. The 700 Mhz spectrum (FAQ), in the UHF band between channels 52-69, will be used for high speed data and other services. Block C, in the Lower Band, consists of a 12 MHz swath (2 x 6 MHz paired) at 710-716 MHz and 740-746 MHz.
Bill Gates’ private investment firm, Cascade Investment LLC of Kirkland, WA, has invested $10 million in the form of a convertible note representing approximately 8% of Lynch Interactive’s fully diluted shares. The company will also serve as the administrative agent for another entity that has applied to participate in both the Upper 700MHz and the Lower 700 MHz and will receive an interest in exchange for these services. The auction is scheduled to begin on June 19, 2002 but may well be delayed.
Sony’s Station.com is conducting tests with Flarion’s 700 Mhz mobile broadband using EverQuest. Can a wireless $199 X-Box be far behind?
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