This Wednesday the FCC will auction 1,122 licenses for spectrum that is currently being used by the military and law enforcement. Analysts estimate the total proceeds could reach $15 billion for the advanced wireless spectrum that can be used for so-called "third generation" services. Seventeen out of 168 eligible bidders made deposits of greater than $10 million, "There's an opportunity here for people, yes, but it's for people with very, very deep pockets that know what they are doing," says Herschel Shosteck, president of cellular and telecom consultancy the Shosteck Group.

Among those willing to fork over the cash are cellphone carriers, like T Mobile, who need to increase their capacity in order to offer mobile broadband. T Mobile is the 4th largest cell provider, but it ranks tops in overall customer satisfaction. Without new spectrum the carrier will not be able to offer a fuller range of mobile services its customers are beginning to want.

Cable companies joined the spectrum fray in a big way. SpectrumCo., a joint venture between Comcast, Time Warner, Cox and Sprint, have placed over $637 million in advanced bids, but they are holding their cards close to their chest as to intentions. In the ever-changing marketplace, where the telcos are offering TV and cablecos bringing you phone service, don't be surprised if cellphones are offered in package deal from your cable provider.

Satellites spent the most in upfront bidding with a partnership, Wireless DBS LLC, between DirecTV and EchoStar trying to spend $972 million. The two rivals, again the subject of merger rumors, hope to expand bundled services with new spectrum allocation. "Network guys are in this battle of the bundles, and increasingly the core part of the bundle is broadband," said Blair Levin, a former FCC official who is now a telecommunications analyst at Stifel, Nicolaus & Co. Inc.