So far in the 700 MHz auction there have been bids totaling more that 2.4 billion and in about a month we should know who won. There were just under two thousand bids for this precious spectrum which could become a viable competitor to DSL and cable.

Five spectrum “blocks” are on the table: A (698-704 MHz and 728-234 MHz), B (704-710 MHz and 734-740 MHz), E (722-728 MHz), C (746-757 MHz and 776-787 MHz), and D (758-763 MHz and 788-793 MHz). Collectively, the entire 700 MHz spectrum covers the analog TV channel range 52-69.

It seems to me that Google absolutely needs to ensure some of this spectrum falls into friendly hands -- even if it has to purchase frequencies and lease them out to other companies.

Of course it isn't just Google who is in this position... Microsoft, Yahoo!, Amazon and others are similarly challenged.

Google's need to acquire some of this spectrum is in exact contrast to the incumbent providers who have to do their best to ensure the spectrum does not fall into the hands of companies which would reduce their negotiating power in generating more revenue from their existing broadband connections.

We should know who the winners and losers are in about a month and this TMCnet article has more on the topic.