Alex Webb, Columnist

Debt Tantrum From Space Forces U.S. Hand in 5G Race

The ball is in the FCC's court to put the process on the fast track.

Weighing all the options.

Photographer: Christopher Goodney/Bloomberg
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A messy situation risked becoming irreversibly messier.

The $35 billion1fight over fifth-generation mobile spectrum involves the Federal Communications Commission; a handful of foreign-domiciled satellite operators that think they deserve the bulk of the proceeds (at least one of which desperately needs the money); the U.S. national wireless services providers that want the bandwidth as soon as possible; and a host of politicians keen for American taxpayers to get what they see as their rightful due.