Opinion for the court filed by Circuit Judge HENDERSON.
KAREN LeCRAFT HENDERSON, Circuit Judge:
On September 17, 1996 the Federal Communications Commission (FCC or Commission) granted Omnipoint Corporation (Omnipoint) eighteen broadband personal communications services (PCS) licenses for C Block spectrum which it won at auction. Because Omnipoint was a qualifying "small business" the FCC financed ninety per cent of Omnipoint's auction bid at a 7% interest...
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