Verizon Wireless backs off FCC lawsuit over upcoming 700Mhz spectrum auction

We didn’t really think it was going to matter anyway, but it’s official now. Verizon (NYSE: VZ) wireless has backed off its lawsuit against the FCC over auction rules regarding the upcoming 700Mhz spectrum auction. According to The New York Times, Verizon Wireless “abandoned its legal challenge of the Federal Communications Commission’s rules for its auction of radio spectrum, removing a potential obstacle to the much-anticipated sale.”

We’re not sure what prompted Verizon Wireless to ditch their legal challenge to the FCC. Conspiracy theorists might be quick to suspect some sort of back-door dealings, similar to the “talks” that Verizon Wireless held with the FCC some time ago. Either way, we’re glad Verizon Wireless isn’t going to challenge the 700Mhz spectrum auction rules – however unlikely their victory might have been.

[Via: NYT]