Ex-Facebook exec Palihapitiya to bid for US airwaves

  • TECH
  • Wednesday, 11 Nov 2015

Bidding for airwaves: The auction could cost the new company between US$4bil (RM17.4bil) to US$10bil (RM43.6bil).

Former Facebook executive Chamath Palihapitiya said he is creating a company to bid for airwaves in the United States and compete with AT&T Inc and Verizon Communications Inc to offer wireless services, Re/code reported.

The auction could cost the company between US$4bil (RM17.4bil) to US$10bil (RM43.6bil), Palihapitiya, founder of venture capital firm Social Capital, told Re/code.

The new venture, to be called Rama, will use software from one of Palihapitiya's companies, LotusFlare, to help manage and organise the network, Re/code said.

The US Federal Communications Commission is expected to hold a so-called "broadcast TV spectrum incentive auction" to buy back 600Mhz wireless airwaves from broadcasters and repackage them to sell to the wireless industry.

Social Capital did not immediately respond to request for comments. — Reuters
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