Washington - The Federal Communications Commission (FCC) has raised a record $19.6 billion in its wireless spectrum auction, which closed on Tuesday, though winners of the prized airwaves aren't expected to be revealed for at least three weeks, the Associated Press reported.

All told, the eight-week auction featured 261 rounds of bidding, with 1,090 licenses up for grabs.

The FCC received its initial bids in January for the 700 megahertz spectrum, which includes airwaves that TV stations will no longer use as they switch to digital signals.

Citing analysts, Reuters reported that Verizon Wireless (NYSE: VZ) most likely will emerge as winner of the highly coveted "C block."

Another portion of the spectrum set aside for a proposed emergency communications network, however, failed to receive the minimum $1.3 billion bid.

FCC Chairman Kevin Martin said that his agency plans to reevaluate its plans for the spectrum, known as the "D block."

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http://snipurl.com/228c3 (AP) http://www.reuters.com/article/industryNews/idUSN1823350720080320