Citing its inability to obtain sufficient financial backing, Frontline Wireless canceled plans to participate in the FCC’s upcoming 700 MHz auction. Frontline had previously convinced the FCC to set aside the D-block 700 MHz channels for a nationwide wireless broadband network license to be shared by public safety and commercial entities, and had largely been expected to bid on that block. Founded by former FCC Chairman Reed Hundt and launched with the support of high-profile investors that include Kleiner Perkins venture capitalist L. John Doerr, former Netscape CEO James Barksdale, and Haynes Griffin, the former CEO of Vanguard Cellular Systems, Frontline had lobbied the FCC for more than a year to reserve the 700 MHz D-block for an interoperable nationwide public/private broadband network. Although Frontline applied last month to bid on the D-block license, the company failed to submit the required $128 million down payment that was due to the FCC on January 4. (The auction is scheduled to begin on January 24.) While Frontline reportedly had the funds available to make the deposit, sources connected with Frontline confirmed that the company could not attract enough investment to reach the $1.3 billion reserve price set by the FCC for the D-block license. Declining further comment, a spokeswoman acknowledged that Frontline “is closed for business at this time.” The FCC, meanwhile, is expected soon to release its final list of qualified bidders who have satisfied the agency’s requirements for participating in the auction and who submitted down payments in a timely fashion.