Cablevision to Bid in Wireless Auction
December 7, 2007 12:28 PM
According to published reports today, Cablevision Systems, a cable MSO with only 3 million subscribers, has filed the paperwork to bid in the FCC’s January auction of wireless spectrum next month. Oh sure.
I’ll believe it when I see it, given the cast of players who have announced their intentions to participate in the auction. Oddly, the nation’s largest MSOs, Comcast and Time Warner Cable, are sitting on the sidelines and will not be participating. The only other cable operator that said it would bid is Cox Cable.
So enter Cablevision, to a fray of deep pocketed companies including AT&T, Verizon, and yes, Google, the search giant that is morphing into god knows what.
Cablevision doesn’t have a hope here. So here’s my two cents: Google now has a market cap higher than some of the largest media companies in this company, dwarfing giants like The Walt Disney Co. Google appears unstoppable, with its stock trading over $700 per share, again.
So the question is, do we want Google in the wireless space? I don’t. I see a bubble in the making that could drag down other players in the tech sector.