The FCC will begin Wednesday to auction of the largest-ever section of mobile spectrum, which would be used by many companies to launch next-generation mobile broadband services. The government expects to raise about $15 billion in revenue, which would be deposited into the U.S. Treasury. 168 bidders have qualified for the auction, ponying up some $4.3 billion in registration fees, and are bidding for 1,122 licenses good for 15 years.

While it is unclear who may win the auction, the FCC's policy of requiring up-front money based on the number of licenses provides some clue as to the most aggressive. Wireless DBS LLC, a joint venture of EchoStar and DirecTV, paid $972.5 million; SpectrumCo, a collaboration of Comcast, Time Warner, Sprint Nextel, Cox, and Bright House Networks, paid $637.7 million; and T-Mobile License LLC was third at $583.5 million.