FCC Ready to Authorize $140 Million in Rural Broadband Funding for CAF II Auction Winners, Verizon Among Them

The Federal Communications Commission issued a public notice stating that it is “ready to authorize” $140 million in rural broadband funding for a portion of the entities that had winning bids in the Connect America Fund CAF II auction. The FCC is still reviewing required information submitted by auction winners and said other winners that meet all requirements to be deemed “ready to authorize” will be included in a future public notice. Entities on the “ready to authorize” list have 10 business days to submit additional information, including a letter of credit from a “bank that is acceptable to the commission,” before their funding will be fully authorized, the FCC notes. Verizon and Hawaiian Telcom, along with several rural telcos and electric cooperatives and other entities, were on the list of “ready to authorize” entities.