Now that the FCC's auction of the 700 MHz spectrum is under way, FierceWireless is busy trying to keep up to date with provisionally winning bids for the various blocks of spectrum. The spectrum, which will be freed up next year when television broadcasters must complete the transition from analog to digital, is seen as a potential industry changer for mobile service providers.

The spectrum that's up for sale could possibly be used to create a true nationwide wireless network or open the field to new competitors.

FierceWireless reported that the first round, which took place Thursday morning, resulted in a potential winning bid of $1 billion for the C block and one of $472 million for the D block. The auction will continue with as many rounds as necessary until there are no more bids.

FierceWireless has set up a dedicated Web page to track the results.