FCC approves final plan for auctioning 4,900 radio frequency licenses. (Originated from Knight-Ridder Newspapers)

    WASHINGTON _ In the first ever auction of radio frequencies, the Federal Communications Commission on Thursday approved a final plan for auctioning 4,900 radio frequency licenses that will offer millions of people easier and more affordable access to a wide range of new communication services. 
    The auction, expected to be held next month, could also bring billions of dollars in badly needed revenue to the U.S. Treasury. 
    Leon Panetta, director of the White House Office of Management and Budget, has told Congress that the auction could raise as much as $10 billion. 
    Hailed as a ``box office smash'' by FCC chairman Reed E. Hundt, the new Personal Communications Services ...