TELECOMMUNICATIONS

FCC Auction Prices Continue to Soar: As the second day of the Federal Communications Commissions’ unprecedented auction of radio spectrum drew to a close, companies hoping to offer a new generation of paging services had offered a stunning $354 million for 10 nationwide paging licenses. The bids more than doubled the total that had been offered on the opening day of the auction, and even the opening day offers were far higher than most observers had expected. The tense bidding, which now appears to be dominated by half a dozen companies, will continue today. The high prices suggest that communications firms see many novel uses for paging services and that auctions of even more lucrative pocket telephone channels next year could raise tens of billions of dollars.