Jessell Alert: Spectrum Auction Terribly Sick

[Commentary] Can you believe this? A year ago, the Federal Communications Commission teased broadcasters with prospective incentive auction opening bids for TV stations ranging from $900 million to $1.2 million. Now, going into Stage 4, with the money broadcasters want and what wireless carriers are willing to pay far, far apart, there's a possibility the whole enterprise may come to naught. If so, the wireless industry should be made to reimburse the FCC for the millions (tens of millions?) of dollars that the agency has spent creating, designing and executing the auction over the past seven years.