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A narrowed field will vie for two digital satellite radio licenses when bidding resumes Wednesday in a federal auction.
As of the 22nd and final round of bidding on Tuesday, CD Radio Inc. posted the highest bid of $83.35 million for one of the licenses.
American Mobile Satellite’s American Mobile Radio Corp. had the high bid of $80.9 million for the other license. Digital Satellite Broadcasting Corp. remained the only other contender.
Meanwhile, the No. 2 bidder at the government’s wireless phone auction last year has filed for bankruptcy. Pocket Communications Inc.–which bid $1.4 billion for 43 licenses, including one in the Chicago area–said Tuesday it took the step voluntarily to protect its assets after defaulting on $80 million in loans.
