Frontline fails to raise enough to bid, shuts down

Former FCC chairman Reed Hundt's wireless start-up Frontline Wireless has shut down operations after failing to raise enough money to bid in the upcoming 700 MHz auction, according to a report in The Wall Street Journal. Frontline had planned on building a nationwide, high-speed wireless network for public safety officials, but even with the backing of L. John Doerr of Kleiner Perkins Caulfield & Byers, as well as other supporters, the company raised enough for the $128 million down payment, but not enough for the $1.3 billion reserve price on the spectrum.

For more on Frontline shutting down:
- read this article from the WSJ (sub. req.)

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