With the Federal Communications Commission (FCC) Auction 58 over, CIRI is pleased to announce that its joint venture with T-Mobile U.S.A. holds the high bids for licenses in 35 markets, including San Antonio, Austin, Cleveland, Denver, Seattle and Minneapolis.

“On behalf of Cook Inlet/VS GSM VII PCS, LLC-otherwise known as CIVS VII, we look forward to the conclusion of the FCC licensing process, and the ability to begin deployment of the spectrum in these markets,” said CIRI Chief Financial Officer Sophie Minich, who was active in the bidding process on behalf of the CIRI-controlled joint venture. According to Minich, the auctioning of new wireless spectrum for commercial use helps ensure that wireless customers are able to enjoy expanded and enhanced wireless service.

“I’m very pleased with the auction outcome for CIRI and this joint venture,” said Margie Brown, CIRI president and chief executive officer. “This is one of the largest investments CIRI has made in several years. While we don’t expect nearly the returns we did with the VoiceStream Wireless investments of several years ago, due to a maturing market among other factors, we are nevertheless very pleased with this investment,” Brown added.