The FCC's auction of wireless spectrum licenses in the 700 MHz band hit $3.7 billion on Friday after four bidding rounds.

The bidding kicked off Thursday, closing that day with a final bid of $2.4 billion. $3.7 billion was the highest bid received for five separate blocks of spectrum, according to eNews 2.0.

While the commercial C Block ran to $1.8 billion by the end of Friday, the D Block — designed for local public safety agencies — hovered near the opening bid of $472 million.

The digital spectrum will be available Feb. 17, 2009 when television moves from analog to all-digital broadcasts.